August 23, 2006

This from an article at the Sacramento Business Journal:

"Russ Solomon, founder of the Tower Records chain that's now in Chapter 11 bankruptcy and hunting for a buyer, is mulling a bid for the company, an adviser said Tuesday."

Analysts and armchair quarterbacks alike are placing bets on Transworld to buy the struggling music retailer. But does Transworld, which recently reported that same store music sales were down 16% in the most recent quarter, really need to acquire a music specialist like Tower? Transworld has been very clear that its segments with sales growth have been games, DVDs and accessories, not music.

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Posted by Glenn at 2:02 AM | | | Tower