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Thursday, 13 March 2003 ,  Written by Scott Selter
D&M Holdings Inc. have announced that it has agreed to acquire McIntosh Laboratory, Inc., from Clarion Corporation of America, a subsidiary of Clarion Co. Ltd., a manufacturer of car audio and electronics. Financial terms of the acquisition were not disclosed. McIntosh, a 53-year-old company based in Binghamton, N.Y., designs and manufactures high-end audio, home theater and car audio products and has annual revenue of approximately $25 million. The financial impact on D&M Holdings is not expected to be material in fiscal 2002 ending on March 31, 2003, but it is expected to be accretive in fiscal 2003.
Monday, 03 March 2003 ,  Written by Jerry Del Colliano
One of the great pleasures during my college years at the University of Southern California in the early to mid-1990s was going out as many as five nights a week with my buddies to shop for CDs in Hollywood. We’d make it a habit to be at Tower Records on Sunset Boulevard at midnight on Monday nights waiting for new releases from our favorite artists. The next night, we would be tearing through the used bins at Penny Lane Records in Westwood. Most of what we were doing, in a pre-Napster, pre-affordable CD-burner era, was speculating on new artists and/or more obscure albums. With limited financial resources but a seemingly incurable thirst for new music, there were risks. Often a new Prince (he was a symbol then) record would come out and it was a real stiff. That makes your $18 (with tax) investment worth $6 in store credit – if you are ...
Tuesday, 21 January 2003 ,  Written by Scott Selter
For the second time in 30 years, music retailer Wherehouse Entertainment Inc. has filed for Chapter 11 bankruptcy protection. The company believes the increase in illegal downloading of songs from the Internet to be one of the factors that has contributed to their recent decrease in sales. Other reasons cited were increased competition from discount retailers and slow holiday season sales. As the company restructures their operations, they plan to close 120 stores in the coming months. Wharehouse had just recently closed 30 retail locations. This leaves 250 stores that Wherehouse plans to remodel and expand, adding more listening stations for consumers to audition music before purchasing it. Wherehouse Entertainment Inc. had previously filed Chapter 11 in 1995 and restructured after purchasing Blockbuster Music. Source:
Monday, 13 January 2003 ,  Written by
The incredible success of DVD-video has propelled home video to become America’s most popular entertainment medium, surpassing consumer spending on movie tickets, music, video games and mass-market books. Just announced by the DVD Entertainment Group at the International Consumer Electronics Show (CES) in Las Vegas, U.S. consumers spent more than twice as much buying and renting DVDs and VHS as they did going to the movies. In 2002, consumers spent $20.3 billion buying and renting DVDs and VHS versus $9.3 billion moviegoers spent at the theatrical box office. DVD now represents 57 percent of 2002 home video consumer spending, driven by DVD retail sales which increased 61 percent to $8.7 billion (compared with $5.4 billion in 2001). Consumers spent an additional $2.9 billion renting DVDs (more than double the $1.4 billion in 2001), bringing total DVD spending to $11.6 billion versus ...
Monday, 13 January 2003 ,  Written by Jerry Del Colliano
Due to pressure from members of the board who were holding him personally responsible for AOL-TimeWarner’s sluggish performance, AOL-TW’s CEO, Steve Case resigned on Sunday. Case will remain on the Board. It doesn’t take a fly on the wall at one of their board meetings to figure out who Case was talking about regarding the criticism of Case’s leadership. And that same guy, Ted Turner, may very well get a shot at running the whole show.
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