Economic history

  1. Entertainment Stocks Pop Amid Stronger U.S. Economic Growth

    October 28, 2011 8:12 AM EDT NEW YORK - Big entertainment stocks saw a nice pop Thursday as U.S. stock markets rose following a European debt deal for Greece and news that the U.S. economy grew at its strongest pace in a year during the third quarter. Gross domestic product i ...

  2. Global Ad Spending to Rise 4.1% This Year, Return to Pre-Recession Peak

    July 13, 2011 7:01 AM EDT NEW YORK - Global advertising expenditures will return to pre-recession peak levels this year, but the U.S. will take several years to return to its peak performance, media planning and buying firm ZenithOptimedia predicted Tuesday. "While th ...

  3. BMG Rights Management To Launch In Australia

    October 21, 2010 12:00 AM EDT BMG Rights Management's rapid expansion continues: the Berlin-based company will launch an Australian operation in early 2011. Tim Prescott, former CEO of Albert Music and a long-time BMG executive, is assisting BMG Rights Management with fur ...

  4. HMV, Orange Partner On Mobile Gaming

    March 19, 2010 12:00 AM EDT U.K. entertainment retailer HMV is adding mobile gaming to its increasingly diverse business set-up. In the past 14 months HMV - which has become dominant in that market following the demise of music retail rivals Zavvi and Woolworths - has taken ...

  5. Will Free-Spending Stage A Comeback?

    February 22, 2010 12:00 AM EST It's a question that has preoccupied marketers ever since the economy went haywire: Will people revert to their free-spending ways once the economy recovers, or has their behavior been permanently transformed? Some observers insist that peopl ...

  6. New Zavvi Owner Eyes Pop-up Stores

    December 18, 2009 12:00 AM EST The Hut Group, owners of the Zavvi brand, are considering following U.K. entertainment retailer HMV by launching temporary stores. The Cheshire-based company acquired the Zavvi name from the administrators following the demise of the entertainment ...

  7. U.K. Music Biz Monitors Developments At Borders

    November 27, 2009 12:00 AM EST The U.K. music industry is keeping a watchful eye over developments at troubled book retail chain Borders U.K. following the company's recent fall into administration - roughly equivalent to Chapter 11 bankruptcy protection (Billboard.biz, No ...

  8. Third Distributor Suspends Supply With Borders U.K.

    November 24, 2009 12:00 AM EST A third distributor has suspended supplies with Borders U.K., while wholesaler Gardners is also understood to have ceased trading with the chain. Meanwhile, administrator BDO Stoy Hayward has refused to comment on reports that it could be appointe ...

  9. Speculation Mounts Over Borders U.K. Sale

    November 23, 2009 12:00 AM EST Borders U.K. is once again the subject of feverish speculation after it was placed back on the market only four months after it was bought in a management buyout backed by distressed debt specialist Valco Capital Partners. Publishers spoken to by ...

  10. HMV Linked With Former Zavvi Flagship Store

    October 16, 2009 12:00 AM EDT U.K. entertainment retailer HMV is reportedly in the final stages of signing a deal to take space at the former flagship Zavvi store in London's Oxford Street. According to Retail Week, HMV and fashion chain H&M will take up stores there ...

  11. HMV To Open Temporary Xmas Stores

    September 21, 2009 12:00 AM EDT U.K. entertainment retailer HMV is planning to open up to 15 temporary stores for the Christmas trading period. HMV Group CEO Simon Fox tells Billboard.biz that the retailer will take temporary leases in towns that currently lack a retail entertai ...

  12. JB Hi-Fi Reports Big Sales Rise

    August 11, 2009 12:00 AM EDT Australian home entertainment, music and electronics retailer JB Hi-Fi has beaten the odds to post a 27% rise in full-year sales, and is predicting more of the same next year. The group's inventory of games, computers, DVDs and telecommunicat ...

  13. Bertelsmann Forms New Rights Management JV

    July 08, 2009 12:00 AM EDT After weeks of negotiations, the German media group Bertelsmann in Gütersloh has signed a deal with the investment company Kohlberg Kravis Roberts & Co. L.P. (KKR) in London to invest in and grow the BMG Rights Management operation, which was ...

  14. Woolworths Reborn Online

    June 25, 2009 12:00 AM EDT Following the demise of the 800-plus store Woolworths retail chain in the U.K., the brand has been reborn online with a product range include music CDs, DVDs and games. The Web site Woolworths.co.uk launched today (June 25). It is operated by onli ...

  15. Woolworths Execs Plan Store Revival

    June 16, 2009 12:00 AM EDT Former Woolworths chief executive Sir Geoff Mulcahy is hoping to launch a similar 200-store chain, including new stores at some of the collapsed U.K. retailer's vacant sites. The Woolworths retail business and the group's wholesale enter ...

  16. BMG Rights Finds Religion

    June 02, 2009 12:00 AM EDT BMG Rights Management (BRM) has signed a publishing partnership with Irish independent label Religion Music. Religion Music, whose catalog includes Lesley Roy, Agnelli & Nelson, and Liquid, owns the masters and publishing rights on all its art ...

  17. Zavvi Web Site Revived

    March 03, 2009 12:00 AM EST The joint administrator of U.K. entertainment retailer Zavvi, which ceased trading at its remaining stores on Feb. 20, has sold the Internet rights for the Zavvi name to an online retailer based in Guernsey in the Channel Islands. The Zavvi e-tail ...

  18. Zavvi Ceases Trading

    February 18, 2009 12:00 AM EST U.K. entertainment retailer Zavvi will disappear from the U.K. high street this week, following the sale of a number of stores to rival HMV and a new venture led by former Zavvi chief executive Simon Douglas. Zavvi will cease trading and all remai ...

  19. Deloitte Confirms EUK Stock Sale

    February 12, 2009 12:00 AM EST The administrator of Woolworths distribution arm EUK, has confirmed it has begun the sale of all remaining stock at the company's warehouse. In reply to recent media speculation that the 2.9 million CDs, 1.8 million books and 1.1 million game ...

  20. Zavvi Confirms More Store Closures

    February 05, 2009 12:00 AM EST The joint administrators of U.K. entertainment retail chain Zavvi have announced the closure of a further 17 stores, leading to the redundancy of 242 employees. Among the stores affected are Blackpool, Coventry, Harlow and York. The remaining 31 s ...

  21. Fifteen Zavvi Stores Close

    January 29, 2009 12:00 AM EST The administrators of U.K. entertainment retailer Zavvi have closed a further 15 stores with the loss of 295 jobs. The latest round of closures today (Jan. 29) means there are now 48 U.K. stores still trading. Zavvi went into administration - roug ...

  22. Koch Gets Rebranded As E1

    January 22, 2009 12:00 AM EST The Koch companies are being rebranded under their parent company's banner, E1 Entertainment. Koch Records announced they have changed their name to E1 Music, Koch Entertainment Distribution will now be known as E1 Entertainment Distribution ...

  23. BBC: '2 Entertain Is Not In Administration'

    January 20, 2009 12:00 AM EST BBC Worldwide has issued a statement in response to Woolworths Group plc applying for administration, the U.S. equivalent of bankruptcy, highlighting that BBC/Woolworths joint venture 2 entertain is not in administration. It reads: "Following ...

  24. More Zavvi Stores Close

    January 14, 2009 12:00 AM EST The administrators of U.K. entertainment retail chain Zavvi have announced the closure of a further 18 stores across the country with immediate effect. The remaining 74 stores in the U.K. will continue trading while a buyer is sought. The latest r ...

  25. Zavvi Stores To Close

    January 08, 2009 12:00 AM EST The joint administrators of U.K. entertainment retail chain Zavvi have announced the immediate closure of 22 stores. The store closures will result in the redundancy of 178 employees. The other 92 stores in the U.K. will continue to trade and ther ...

  26. Redundancies At Zavvi

    January 05, 2009 12:00 AM EST More than half of the staff at Zavvi's London headquarters have been made redundant, a total of 69 jobs. The entertainment retail chain went into administration on Dec. 24. The move is roughly equivalent to Chapter 11 bankruptcy protection in ...

  27. Zavvi's Irish Stores In Provisional Liquidation

    December 30, 2008 12:00 AM EST U.K. entertainment retailer Zavvi's Irish stores have been put into provisional liquidation, in line with the situation in Britain. There are 114 Zavvi stores in the U.K. and 11 in Ireland. They employ 2,363 permanent staff and 1,052 temporar ...

  28. Oldest Woolworths Store Among Closures

    December 30, 2008 12:00 AM EST U.K. retailer Woolworths is continuing its closure program, with its oldest store, based in south London, shutting its doors. The Croydon branch of Woolworths, which opened in 1912, is among 163 closures today (Dec. 30). Administrator Deloitte has ...

  29. Zavvi Stores Refuse Gift Vouchers

    December 29, 2008 12:00 AM EST Customers holding gift vouchers for U.K. entertainment retailer Zavvi have been told to contact the joint administrators for a refund, although not all vouchers will be eligible to be exchanged for cash. Zavvi went into administration on Dec. 24, ...

  30. Ailing Zavvi Calls In Administrators

    December 24, 2008 12:00 AM EST U.K. entertainment retail chain Zavvi, has gone into administration, the U.K. equivalent of Chapter 11 bankrutcy protection. Administrators Ernst & Young said today they intended to trade the 114-store Zavvi UK with a view to selling all or pa ...

  31. Woolworths Stores Set To Shut By Early January

    December 17, 2008 12:00 AM EST Woolworths could be closed down for good by Jan. 5 at a cost of 27,000 jobs if no one comes forward before that date to buy the collapsed retailer's stores, its administrators said Wednesday. Deloitte, which was appointed to run Woolworths af ...

  32. Distributor EUK Winds Down, 700 Jobs Cut

    December 12, 2008 12:00 AM EST Entertainment wholesale distributor EUK has failed to attract a buyer and the business will now be wound down by the administrators. EUK, which was part of Woolworths Group, will continue to operate with a reduced workforce of 375 employees. Seven ...

  33. HMV Posts £27.5m Six-Month Loss

    December 11, 2008 12:00 AM EST Retail group HMV suffered a pre-tax loss of £27.5 million ($41.2 million) in the 26 weeks ended Oct. 25. After the company's interim results were published at 7am GMT this morning, HMV Group shares fell on the London Stock Exchange from last ...

  34. Woolworths To Launch Closing Down Sale

    December 10, 2008 12:00 AM EST The administrator to Woolworths Plc said that closing down sales would begin at the troubled British retailer's stores on Dec. 11 and that some shops could close before the end of the month if no offers for the retail business materialise. &q ...

  35. Woolworths Slashes Prices

    December 05, 2008 12:00 AM EST Entertainment retailers will be keeping a close eye on the impact of a decision by Woolworths' administrators to slash prices by up to 50%. The troubled retailer went into administration -- roughly equivalent to Chapter 11 bankruptcy in the U ...

  36. Zavvi Suspends Web Site

    December 02, 2008 12:00 AM EST Following major problems with distributor EUK, U.K. entertainment retailer Zavvi has temporarily suspended its Web site service, as it is unable to guarantee supplies to customers. The Woolworths-owned EUK went into administration along with the g ...

  37. U.K. Retailers Facing EUK Supply Logjam

    November 28, 2008 12:00 AM EST British entertainment retailers are facing up to major supply problems from EUK, after the Woolworths Group's distributor went into administration along with the company's retail business. It has emerged that EUK has not been making deli ...

  38. Biz Reacts To Woolworths' Woes

    November 27, 2008 12:00 AM EST The U.K. biz is looking at how to deal with the aftermath of Woolworths' retail and distribution businesses going into administration. Woolworths Group ended discussions about the potential sale of its 815 stores last night (Nov. 26). Labels ...

  39. Updated: Woolworths Set To Enter Into Administration

    November 26, 2008 12:00 AM EST The board of Woolworths is set to approve a decision to put its retail and distribution businesses into administration from tomorrow (Nov. 27). The board met at 6pm U.K. time to finalize the decision. A source has confirmed to Reuters that consult ...

  40. Woolworths Falls On Concern It Won't Sell Stores

    November 21, 2008 12:00 AM EST Shares in Woolworths Group PLC plunged 29% Friday (Nov. 21) on rising market concerns the company might not be able to sell its debt-ridden retail business because of a lack of support from investors. Shares in Woolworths, hit hard by a slowdown i ...

  41. Woolworths In Talks To Sell Stores

    November 19, 2008 12:00 AM EST Major U.K. retailer Woolworths Group has confirmed that the company is in talks regarding the sale of its retail arm. In a statement released today (Nov. 19), the company said: "The Board can confirm that it is in preliminary discussions rega ...

  42. Woolworths Group's EUK Changes Trading Terms

    November 13, 2008 12:00 AM EST British wholesale distributor Entertainment U.K. (EUK), part of the troubled Woolworths Group, has insisted it can operate as normal in the run-up to Christmas. There have been concerns in the biz about EUK's position during the crucial fourt ...

  43. Woolworths Exec Shuffle

    October 22, 2008 12:00 AM EDT Troubled U.K. retailer Woolworths has appointed former Punch Taverns executive Robert McDonald to the position of group chief financial officer. Effective Nov. 3, he will be replacing Stephen East, who will stay with the company during the transit ...

  44. Woolworths Group’s EUK ‘Trading As Normal’

    September 30, 2008 12:00 AM EDT British wholesale distributor Entertainment U.K. (EUK), part of the struggling Woolworths Group, has insisted it is trading as normal amid concerns in the biz as the crucial fourth quarter arrives. Woolworths Group issued a statement that appeared ...

  45. Woolworths Posts Huge Loss

    September 17, 2008 12:00 AM EDT U.K. retail giant Woolworths Group has posted a loss of £99.7 million ($178.04 million) for the six months to Aug. 2. The interim results today (Sept. 17) show that losses have widened from the £63.8 million ($113.95 million) pre-tax loss for the ...

  46. Woolworths Hits New Low After Profit Warning

    July 29, 2008 12:00 AM EDT British sweets-to-DVDs retailer Woolworths issued a profit warning, blaming a marked downturn in trading conditions, and scrapped plans to sell out of DVD publisher 2 entertain, sending its shares to a new low. The 100-year-old group, which last m ...

  47. Woolies Pulls Plug On Singles, Launches Download Store

    May 27, 2008 12:00 AM EDT British supermarkets giant Woolworths is axing the CD single from its inventory, claiming consumers are no longer interested in the format. CD singles will be pulled from Woolworths' shelves with effect from August, although there will be an ...

  48. Sony BMG, Hilfiger Tune In To Tommy TV

    April 16, 2008 12:00 AM EDT Tommy Hilfiger is attempting to parlay its expertise at detecting fashion trends into picking hot, new music artists. Through a partnership with Sony BMG, the U.S. designer clothing firm today launched a Web portal, TommyTV , which it says will ex ...

  49. Borders, Whitcoulls End Talks On Aus Deal

    March 14, 2008 12:00 AM EDT Borders' Australasian operations are back in play, following the collapse of a deal with A & R Whitcoulls. In an announcement to the New Zealand Stock Exchange, the retail group stated that negotiations had ceased and that a transaction b ...

  50. Woolworths Sales Drop In U.K.

    January 17, 2008 12:00 AM EST U.K. retailer Woolworths has admitted to a "very challenging" Christmas, reporting a like-for-like sales dip at its 800-strong chain of 3.2% in the 49 weeks ending Jan 12, 2008, compared with the same period in the previous financial yea ...

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