Printed from http://www.electronista.com

Record labels to help potential HMV buyers save UK retailer

updated 07:16 pm EST, Sun January 20, 2013

Discounts on stock, lines of credit to prolong physical media sales

Major record labels will help keep British music retailer HMV stores running by offering potential buyers heavily discounted stock. Reports claim that Universal Music, Warner Music, Sony, and others will offer whatever company steps in to run the music chain help in keeping physical music and movie sales in the High Streets and away from Internet retailers.

Sources of The Sunday Times say that the aim of larger entertainment firms is to prevent entire catalogs of media being sold solely through Internet distributors and supermarkets, something that will force the wholesale prices lower than they currently are. Though HMV succumbed to financial difficulties earlier this week after low seasonal sales, it is believed that the retailer still represents for a fifth of music and DVD sales in the UK.

There are allegedly over fifty entities wanting to buy part or all of HMV from its administrators. Computer game store chain Game is said to be bidding for up to 50 of the 239 store locations in order to expand its presence, an ironic note given that Game headed into administration in March last year before being rescued by OpCapita.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

IDrive cloud backup and sync service

There are a lot of cloud services out there, and nearly all of them can be used for backing up key files and folders. A few dedicated ...

Asus Chromebook C300

When Chromebooks hit the market back in 2011, consumers didn't know what to do with them. The low-cost laptops, powered by Google's Ch ...

Plantronics BackBeat Pro Bluetooth headphones

Looking for a pair of headphones that can do everything a user requires is a task that can take some study. Trying to decide on in-ear ...

Sponsor

toggle

Most Commented

 
toggle

Popular News