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
Showbiz Round-Up
April 14, 2025
More Hollywood news has arrived; it's time for another round-up!
As Oversized 880-Page Hardcovers
April 9, 2025
The deluxe edition will feature a larger trim size and higher page count than the original Vertical release.
MORE COMICS
From Marvel Comics
April 19, 2025
The legendary Marvel Swimsuit Special is back this July with your favorite heroes soaking up the sun in Marvel Swimsuit Special: Friends, Foes & Rivals #1.
From Oni
April 18, 2025
Oni Press is planning a summer comics event around Rick and Morty, with a core event series and three tie-in one-shots, to launch in July.