The Sunday Times : The world’s biggest music labels and film studios are assembling a multimillion-pound rescue package to prevent HMV from going out of business.
The world’s biggest music labels and film studios are assembling a multimillion-pound rescue package to prevent HMV from going out of business.
Universal Music, Warner Music and Sony are set to cut the price of CDs and DVDs, and give the retailer generous credit terms. Film giants, including 20th Century Fox, Universal Studios and Warner Bros, are also expected to throw their weight behind the rescue attempt.
Industry sources said the entertainment giants were desperate to keep alive a specialist retailer to avoid cut-throat pricing by supermarkets and internet distributors.