Economy of the United Kingdom

  1. Business Matters: Terra Firma, Vivendi, HMV Group and More

    May 14, 2010 12:00 AM EDT -- Reuters reports Terra Firma has given Citigroup a compliance certificate , a notification of its plan to inject additional equity to meet its debt covenant. Terra Firma does not need to hand over the money until June 14. But the specifics on th ...

  2. Severe Weather Hits HMV Sales

    April 29, 2010 12:00 AM EDT U.K. entertainment retailer HMV put in a solid performance in 2009, but its sales in the first three months of 2010 were disappointing. A trading update from the retailer showed total year-on-year sales growth for HMV U.K. and Ireland of 7.2% for ...

  3. Rough Trade's Jeannette Lee Speaks Out On 'Sexist' Biz

    April 22, 2010 12:00 AM EDT Industry veteran Jeannette Lee, co-founder/joint director of the iconic U.K. independent music group Rough Trade, last night (April 21) attacked the music industry for still being sexist in the 21st century. Lee and her Rough Trade business partne ...

  4. HMV Targets New Products, Live Music Market

    March 26, 2010 12:00 AM EDT British entertainment retailer HMV is targeting earnings growth over the medium term by increasing sales of new products in music, visual and games and raising its presence in live music and ticketing. In a strategy update, the firm pledged a turn ...

  5. British Music Sales Hold Steady In 2009

    March 23, 2010 12:00 AM EDT The U.K.'s recorded music sales held up in 2009 and performed better in a year-on-year comparison than video and computer games, according to new retail sales data published by the Entertainment Retailers Association (ERA). The trade body ...

  6. 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 ...

  7. Free Record Shop Posts $1.6 Million Loss

    March 18, 2010 12:00 AM EDT Free Record Shop Holding, the largest Benelux chain of entertainment stores, posted a loss of €1.2 million ($1.6 million) in its financial year ended Sept. 30, 2009. Total income for Free Record Shop (FRS), consisting of 313 stores and 37 franchis ...

  8. HMV 'Could Be Target For Private Equity Bid'

    March 04, 2010 12:00 AM EST U.K. entertainment retailer HMV's share performance could make it a target for private equity bidders, an influential retail analyst has claimed. Arden Securities' Nick Bubb said despite its position as the "last man standing" ...

  9. Tesco Snags U.K. Simply Red Exclusive

    February 22, 2010 12:00 AM EST Retail album exclusives have arrived in the U.K.: mass merchant Tesco will release a Simply Red set this month only in Tesco stores and via its Web site. "Songs of Love," released Feb. 28 for Mother's Day in the U.K., features a col ...

  10. Digital Downloads Could 'Overwhelm' HMV

    February 02, 2010 12:00 AM EST The decline of the physical market for books and music caused by digital could hinder U.K. entertainment retailer HMV Group's ability to prosper, a retail think tank has claimed. The KPMG/Synovate's Retail Think Tank expressed a gloomy o ...

  11. HMV Secures Mama Group Shares

    February 01, 2010 12:00 AM EST U.K. entertainment retailer HMV Group said it has secured acceptances of 56.4% of the shares in live venue joint venture partner Mama Group. HMV had the backing of the share-holding Mama company directors for its Dec. 23 offer of 5.4 pence (8.6 ce ...

  12. Music Producers Guild To Honor Chris Blackwell

    January 20, 2010 12:00 AM EST Island Records founder Chris Blackwell will receive the outstanding contribution to U.K. Music honor at the Music Producers Guild Awards next month. It follows the completion of the 50th anniversary celebrations for Island Records, launched in 195 ...

  13. Indie Execs, Publishing Vet Launch Beggars Music

    January 19, 2010 12:00 AM EST U.K. music publishing veteran Andy Heath has joined with XL Recordings founder Richard Russell and Beggars Group chairman Martin Mills to launch a new publishing company. Heath, currently chairman of umbrella trade organization U.K. Music, has for ...

  14. HMV Retains Temporary Stores

    January 19, 2010 12:00 AM EST U.K. entertainment retailer HMV has confirmed that six of its temporary stores are to remain open. Last week's interim management statement said that the temporary stores delivered an "excellent performance" in the Christmas trading ...

  15. HMV Posts Double Digit Xmas Sales Rise

    January 14, 2010 12:00 AM EST U.K. entertainment retailer HMV increased sales in the U.K. and Ireland by 13.4% over the 10-week Christmas trading period compared to the previous year. Meanwhile, the retailer's diversification into venues looks set to continue in 2010. The ...

  16. Hut Group Reports Xmas Trading Boost

    January 06, 2010 12:00 AM EST U.K. e-commerce provider the Hut Group has reported a 188% increase in orders processed in the six-week Christmas trading period compared to the same period in the previous year. The Cheshire-based company says sales revenue across the group exper ...

  17. U.K. Retailers Warn Of Labels' Conservatism

    December 31, 2009 12:00 AM EST U.K. entertainment retailers fear that conservatism among music, film and games companies means their products face losing the interest of the British public. That's the core point of a New Year message issued to the entertainment industry to ...

  18. HMV Agrees Deal To Buy Live Partner Mama

    December 23, 2009 12:00 AM EST U.K. entertainment retailer HMV has agreed a bid for its live music joint venture partner Mama Group, which values the London-based company at £46 million ($73.4 million). In a statement today (Dec. 23), HMV said its offer of 5.4 pence (8.6 cents) ...

  19. 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 ...

  20. HMV Sales Jump 12.8%

    December 11, 2009 12:00 AM EST HMV U.K. and Ireland increased sales by 12.8% to £470.7 million ($763.8 million) in the six months to Oct. 25, 2009 compared to the same period a year ago. The U.K. entertainment retailer was able to take advantage of the demise of rivals Zavvi an ...

  21. Mama Group Up On Counterbid Hopes

    December 10, 2009 12:00 AM EST British music, books and games retailer HMV is considering its position with respect to Mama Group, fuelling talk it will launch a trump bid for its live music joint venture partner. Mama rejected on Wednesday an improved £38.4 million ($62.4 mill ...

  22. 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 ...

  23. Speculation Over Borders U.K. Continues

    November 25, 2009 12:00 AM EST Publishers are waiting for news on Borders U.K., as negotiations continue over a possible sale of the troubled chain. A number of distributors have the retailer on stop, with the Random House-owned companies -- the Book Service and Grantham Book S ...

  24. 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 ...

  25. Live Nation/Ticketmaster U.K. Merger Inquiry Extended

    November 06, 2009 12:00 AM EST The inquiry by the Competition Commission (CC) in the U.K. into the merger of Live Nation and Ticketmaster has been extended by eight weeks, and will now report by Jan. 19, 2010. It follows a provisional CC ruling on Oct. 8 that the merger will hi ...

  26. HMV Rolls Out Temporary Christmas Stores

    October 22, 2009 12:00 AM EDT U.K. entertainment retailer HMV is launching its first temporary stores for the Christmas trading period. "We opened the first one last weekend in Bluewater and the next four open in Saturday (Oct. 24)," HMV Group chief executive Simon F ...

  27. 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 ...

  28. Vodafone Adds Warner To Mobile Music Store

    September 22, 2009 12:00 AM EDT Vodafone has signed up Warner Music to offer over-the-air access to DRM-free music from the major. It now has all four majors on board for its music download store, with a total catalog of 1 million tracks. The mobile phone network already offers ...

  29. 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 ...

  30. London Paper Cancels 'Headliners' Fest Ahead Of Closure

    September 09, 2009 12:00 AM EDT News Corp's News International, owner of the London Paper, has announced the cancellation of its new Headliners event in light of the free weekday paper's imminent closure. The new event, set for Sept. 16 and 17, was to feature over 50 a ...

  31. HMV Sales Inch Up In U.K.

    September 03, 2009 12:00 AM EDT HMV, the market leading U.K. entertainment retailer, has announced like-for-like sales growth of 1.7% by value for the 18 weeks ending Aug. 29, 2009. HMV Group issued the trading update at its annual general meeting (AGM) today in London. Total sa ...

  32. HMV Strikes 7Digital Deal

    September 03, 2009 12:00 AM EDT Entertainment retailer HMV Group is paying £7.7 million ($12.6 million) for a 50% stake in digital media company 7digital, which operates international download stores. The joint venture will combine London-based 7digital's technology, expert ...

  33. 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 ...

  34. Sales Boost For Mercury Nominees

    August 07, 2009 12:00 AM EDT Albums nominated for this year’s Barclaycard Mercury Prize have seen big increases in sales, according to market-leading U.K. entertainment retailer HMV. The 12-album shortlist for the award, which honors the best U.K. and Irish albums of the year ...

  35. HMV's Fox, Apple's Cagni Top 2 For ITV CEO: Report

    July 29, 2009 12:00 AM EDT HMV chief executive Simon Fox and Apple's most senior executive in Europe, Pascal Cagni, are the frontrunners to become the next chief executive of British broadcaster ITV, according to The Times. The report said ITV was almost certain to app ...

  36. Hostess Entertainment, Beggars Form Partnership

    July 23, 2009 12:00 AM EDT The Japanese independent music company Hostess Entertainment has reached agreement with leading indie Beggars Group on a licensing deal. The strategic licensing deals means Hostess will exclusively release Beggars' repertoire from its labels ...

  37. Borders To Receive Working Capital Injection After Buyout

    July 17, 2009 12:00 AM EDT Borders U.K. chief executive Philip Downer has ruled out store closures "in the near future," following the retailer's management buyout. Downer and finance director Mark Little led a buyout of the business, backed by Valco Capital ...

  38. S&S, HarperCollins Tie In Jackson Race

    July 15, 2009 12:00 AM EDT Simon & Schuster and HarperCollins have tied in their bid to be first to market with a new Michael Jackson book in the U.K. Copies of S&S's "Unmasked: The Final Years of Michael Jackson," by Ian Halperin, were hand-delivered ...

  39. Borders Launches Clearance Sale In Five Closing Stores

    July 14, 2009 12:00 AM EDT Borders has launched a closing down clearance sale in five of its U.K. and Irish stores, including its flagship Oxford Street branch in London. Borders announced yesterday that leases for five stores, Blanchardstown in Dublin, Llantrisant, London ...

  40. HMV Group Profit Up 12%

    June 30, 2009 12:00 AM EDT Britain's HMV Group Plc has seen an unprecedented surge in demand for Michael Jackson's music following the singer's death on Thursday, the retailer said, as it met forecasts with a 12% rise in profit. Chief executive Simon Fox said ...

  41. UMPG Partners With Asda On Clothing, Downloads

    June 01, 2009 12:00 AM EDT Universal Music Publishing Group has entered into an exclusive, long-term partnership with clothing range George at ASDA in the U.K., effective June 1. Universal's song lyrics will be printed on a wide range of the British mass merchant' ...

  42. RealNetworks Music Revenues Climb 16%

    May 08, 2009 12:00 AM EDT RealNetworks reported first-quarter earnings that showed an increase in music revenues to $44.1 million, 16% more than the same period last year. That's more revenue than any other business unit in the company. Helping drive this growth is an ...

  43. HMV Unveils Reward Card Scheme

    May 01, 2009 12:00 AM EDT U.K entertainment retailer HMV will roll out its new customer loyalty card, Pure HMV, this month and it has revealed trial data showing the benefits of the scheme to suppliers. HMV is also targeting former customers of the defunct Woolworths retai ...

  44. HMV Sales Up 11.7% In 2009

    April 29, 2009 12:00 AM EDT U.K. entertainment retailer HMV has benefited from the closure of rival Zavvi and the Woolworths retail chain, recording a year-on-year sales volume increase of 11.7% for the 16 weeks ending April 25, 2009. During a conference call, HMV Group chie ...

  45. Indie Retailers Ready For Record Store Day

    April 17, 2009 12:00 AM EDT Despite the success of online retailers, explosion of Internet downloads and high-profile closings of Virgin Megastores and Tower Records stores, bricks-and-mortar record stores aren't all spinning toward oblivion. Although hundreds of indepe ...

  46. EMI Responds To Simply Red Court Action

    April 06, 2009 12:00 AM EDT EMI Music is doing "everything we can" to recover money owed from failed wholesale distributor Entertainment U.K. in connection with a Simply Red greatest hits set, according to a spokesperson. It follows reports that the U.K. soul-pop a ...

  47. UMGI Races Ahead With Formula 1

    March 30, 2009 12:00 AM EDT Universal Music Group International and its joint venture company All The Worlds have partnered with racing body Formula One Administration Ltd to create a global entertainment platform that will see international artists perform live at Formula 1 ...

  48. Barclaycard To Sponsor Mercury Prize

    March 30, 2009 12:00 AM EDT Barclaycard and the Mercury Prize have joined forces on a four-year partnership that sees the credit card company become title sponsor of the prestigious U.K. music award. Effective immediately, Barclaycard -- an arm of global financial services p ...

  49. London Garage Re-Opening

    March 26, 2009 12:00 AM EDT The Garage venue in London, part of the joint venture between Mama Group and entertainment retailer HMV, is to re-open on June 26, 2009. The future of the Garage in north London had been uncertain, but it will now become the first venue to re-open ...

  50. Island 50 Celebrations To Hit U.K. In May

    March 10, 2009 12:00 AM EDT Island Records will launch its 50th anniversary 'Island 50 Festival' program by staging a weeklong residency at London's Shepherds Bush Empire under the banner 'Island Life.' Commencing May 25, the event will feature acts ...

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