HMV reveals number of parties interested in buying its live music business

Owner of London O2 Arena said to be amongst potential buyers…

HMV reveals number of parties interested in buying its live music business

Photo: PA

HMV has revealed that there are a number of potential buyers interested in buying its live music business.

The high street retailer, which has sold off both Waterstones and HMV Canada in the past 12 months, has previously stated its intentions to sell HMV Live, which runs venues such as London Hammersmith Apollo and Kentish Town Forum.

Now, according to Reuters, they have attracted interested from several parties including US billionaire Philip Anschutz, whose company AEG owns London's O2 Arena. Academy Music Group, which is responsible for running Brixton Academy and Shepherd's Bush Empire, and Oakley Capital, which has a controlling interest in Time Out, are also said to be interested in making a bid.

A statement from HMV said:

HMV Group notes the recent press speculation regarding the strategic review of the HMV Live business. HMV can confirm that this review remains on-going and that a number of parties have indicated an interest in acquiring the business.


Last month, HMV was forced to deny reports that Amazon had overtaken the high street chain as the UK's leading home entertainment retailer. They described the figures released by market research company Kantar as "skewed" and "misleading" as they chose to include computer games which tips the balance in Amazon's favour, with HMV still leading the way in CD and DVD sales.

In November last year, meanwhile, the retailer announced half-year losses of £36.4 million, but claimed that their decision to focus on technology products was working, with like-for-like sales of products such as headphones, speaker docks and tablet computers up by 147 per cent. It also subsequently announced plans to step up the amount of vinyl it stocks, in response to demand from customers.

Read More On This Artist

More News
Band Aid single 'Do They Know It's Christmas?' goes straight to Number One with...
Lily Allen reveals she turned down invitation to record 'smug' Band Aid 30 single
James Blake hints that Kanye West will appear on his next album
Bruno Mars and Mark Ronson perform 'Uptown Funk' on 'Saturday Night Live' -...
'Monty Python' song tops poll to discover Britain's most popular funeral songs
Emeli Sande criticises Band Aid 30 single lyrics: 'A whole new song is required'
Noel Gallagher: 'When I close my eyes I don't see Oasis reforming' - watch
New Libertines film documenting recent comeback to be released
Eminem releases free 66-track 'Shady Classics' mixtape - listen
Biffy Clyro tear through first London show in 18 months at Relentless Live
TV On The Radio perform 'Happy Idiot' on 'Letterman' – watch
US pear farmers pleased with Rick Ross endorsement
Jack White pays tribute to keyboardist Isaiah 'Ikey' Owens at London gig
Ghostface Killah releases new track 'Double Cross' – listen
Early version of The Velvet Underground's 'Sweet Jane' is released – listen
Angel Olsen unveils 'Windows' video – watch
Pete Doherty: 'For more than ten years I've been powerless, but there's a way...
Beyoncé dances around hotel room in new '7/11' video – watch
Sun Kil Moon unveils new nine-minute track 'The Possum' – listen
Action Bronson and Killer Mike rap battle on treadmills – watch
Skrillex unveils video for 'Fuck That' - watch
Blink-182's Tom DeLonge: 'Condoning streaming is like condoning killing elephants'

More News

Comments

Please login to add your comment.

Latest Tickets - Booking Now
 
Know Your NME
 

 
NME Store & Framed Prints
Inside NME.COM