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The Panthers released Hollister on Tuesday, Mike Kaye of The Charlotte Observer reports.
Hollister turns 31 in November and missed all of last season after reaching an injury settlement with the Raiders. He has 62 games of NFL experience with a career 83-707-7 receiving line, but Hollister didn't do enough to win a 53-man roster spot in Carolina this summer, finishing the preseason with four catches for 27 yards.
