HMV has been struggling a lot with its mounting debt, pressure from banks and fall in overall sales. HMV has now announced that they will be giving equity worth 2.5 percent to its key suppliers – music and movie studios – to avoid breaching its banking covenants. This saw HMV shares rise 100% in a matter of minutes. I find it very interesting that HMV can give away 2.5% of their company for writing off old debt and shares can increase. I know their bottom line looks a lot better, but it really doesn’t draw away from the fact that the CD music market is in decline and HMV isnt adapting very well to this changing market!
HMV are also in talks to sell their profitable live music company, Mama Group, plus selling off their 50% stake in 7Digital. I can only see tough times ahead of this high street giant who didn’t move with the times (sounds very much like the Kodak story!).
Source – Paidcontent
It been thirty years since the original members of Band Company performed together in the UK.
Plans to play eight dates in the UK during April next year have just been set in stone, and with all the original band members no less. Singer Paul Rodgers, drummer Simon Kirke, guitarist Mick Ralph and new bassist Lynn Sorensen. The last time the founding members reunited on stage was back in August of 2008 when they performed at the Seminole Hard Rock & Casino in Hollywood, Florida.
Original and current singer Paul Rodgers, in his stint away from Bad Company, enjoyed some success with the remaining members of Queen. A tour that managed some success and eventually climaxed in an album together, The Cosmos Rocks.
Although there is no news of any further plans for Bad Company yet beyond their short tour next year, the band are releasing a DVD/CD box set in February. Ticket are on sale from 20th November (tomorrow). Tour dates are as follows:
April 1 – Birmingham LG Arena.
April 2 – Manchester Arena.
April 4 – Sheffield City Hall.
April 5 – Cardiff CIA.
April 7 – Newcastle Arena.
April 8 – Glasgow Clyde.
April 10 – Brighton Center.
April 11 – Wembley Arena.
