According to the Hollywood Reporter, Sun Capital Partners, the turnaround specialists who recently acquired the 1,100 Musicland, Suncoast and Sam Goody stores from Best Buy, are in negotiations to takeover the beleaguered Tower Records chain. No one from either Sun or Tower is talking but music and video vendors have told the Reporter that a deal is pending. Sun Capital Partners, which specializes in turning around troubled companies, paid nothing for the Musicland stores, but did take on the chain's substantial debt, and a similar deal with Tower Records is likely. Declining CD sales and mass market competition have hurt music specialty stores, many of which have broadened their product mix to include graphic novels (especially manga) and anime videos.
Turnaround Specialists Already Bought Musicland
Posted by ICv2 on December 18, 2003 @ 11:00 pm CT
MORE SHOWBIZ
Launching in 2025; HBO Series in the Offing
November 15, 2024
The new DC Comics All In title will launch in 2025, well ahead of the planned HBO Lanterns series.
One World Under Doom Tie-In to Arrive Ahead of 'Thunderbolts' Movie
November 14, 2024
The limited series, a tie-in to the One World Under Doom event, will launch ahead of Marvel Studios' upcoming Thunderbolts movie.
MORE COMICS
Launching in February 2025 with Extra-Long First Issue, Alex Ross Cover
November 15, 2024
The extra-long first issue will be out in February 2025 and will feature a cover by Alex Ross.
From Marvel Comics
November 15, 2024
This January, Marvel's mutant sorcerer headlines her first solo ongoing series in Ashley Allen and Germán Peralta's Magik !