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June 12, 2012 11:46 am GMT
A sudden, but perhaps unsurprising, bit of e-book M&A today in the UK: the music and entertainment company HMV is selling its 64 percent stake in e-book retailer Anobii to the supermarket chain Sainsbury's, for the princely sum of 1 ($1.55).The deal will give Sainsbury's a jump start into the e-book market as part of its stated strategy of becoming a bigger player in digital media business. It has been gradually building this up since 2010, although without much fanfare: in November of that year it launched its Sainsbury's Entertainment brand; in November 2010 it bought online entertainment company Global Media Vault; and earlier this year it started its own music downloading service. It also gives Sainsbury's a window for international expansion: Anobii currently has 60,000 customers -- not just in the UK but internationally.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/JPhEHNcLsz8/
New Ebook Player? UK Supermarket Giant Sainsburys Buys HMVs 64%b Stake In Anobii For 1
A sudden, but perhaps unsurprising, bit of e-book M&A today in the UK: the music and entertainment company HMV is selling its 64 percent stake in e-book retailer Anobii to the supermarket chain Sainsbury's, for the princely sum of 1 ($1.55).The deal will give Sainsbury's a jump start into the e-book market as part of its stated strategy of becoming a bigger player in digital media business. It has been gradually building this up since 2010, although without much fanfare: in November of that year it launched its Sainsbury's Entertainment brand; in November 2010 it bought online entertainment company Global Media Vault; and earlier this year it started its own music downloading service. It also gives Sainsbury's a window for international expansion: Anobii currently has 60,000 customers -- not just in the UK but internationally.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/JPhEHNcLsz8/
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