Video: Hollywood Entertainment Corp. on Monday agreed to spend $30.5 million to buy Video Central, a 33-store chain of video stores, in a deal the companies said will create the nation’s third-largest chain specializing in video rentals. Video Central, part of the H.E. Butt Grocery Co., has revenue of more than $30 million a year and is known for video superstores that average 7,200 square feet in size, with some as big as 10,000 square feet. Hollywood Entertainment is a major regional video retailer, operating in the Pacific Northwest under the name Hollywood Video. Craig Odanovich, general manager of Video Central, will become chief operating officer of Hollywood Entertainment.