HMV Share Discussion Threads

[totally banjo] 14/1/2013 14:45

Apollo Said to Rule Out HMV Bid After Buying Passive Debt Stake
By Sarah Shannon on January 14, 2013

Apollo Global Management LLC (APO) will remain a passive investor in HMV Group Plc (HMV) after acquiring a stake in the U.K. retailer's bank debt, according to two people familiar with the matter.

The asset-management firm has no plans to make an offer for the seller of CDs and DVDs, according to the people, who declined to be identified because the matter is private. The Sunday Times reported on Jan. 6 that New York-based Apollo was considering a takeover of HMV, which last month said it will probably breach debt covenants in 2013 amid continued losses.

Apollo acquired the stake of about 6 percent in HMV's bank debt about two weeks ago, the people said. Neither HMV nor Apollo would comment on the price paid.

The holding is too small to influence any planned restructuring of the business, they said. Lloyds Banking Group Plc (LLOY) and Royal Bank of Scotland Group Plc (RBS) are the lead banks and will lead any restructuring discussions, the people said.

A spokesman for HMV declined to comment. HMV shares have fallen 41 percent this year, adding to last year's 44 percent slump and reducing the company's market value to 4.9 million pounds ($7.9 million). The retailer last month reported a first- half net loss of 36.2 million pounds and on Jan. 12 started selling CDs, DVDs, box sets and games at a 25 percent discount. Its net debt was 176.1 million pounds as of Oct. 27.

Apollo is the smallest stakeholder in the bank debt and has no plans to make additional purchases, the people said.

The asset-management firm in December agreed to buy U.K. luxury jewelry retailer Aurum Holdings, which includes Watches of Switzerland, Mappin & Webb and the Goldsmiths brands.

[grittar] 14/1/2013 14:38

I have had dealings with 7 digital and they are a good company. Makes a profit and well funded.

[graham2405] 14/1/2013 14:30

goldfeverrush

Suggest you look up J Arthur / J Arthur Rank slang............you'll catch on I promise.

[graham2405] 14/1/2013 14:29

7digital is a very good company.

No,very good companies make a profit.

Companies only exist to make a profit, that is why charities are called non-profit organisations.

[grittar] 14/1/2013 14:13

7digital is a very good company.

[goldfeverrush] 14/1/2013 14:02

No the laugh is with you having HMV.

[goldfeverrush] 14/1/2013 13:51

There is always WONGA.COM if they need cash for a month.

[graham2405] 14/1/2013 13:48

Does 7Digital make a profit?

Mind you, with HMV no longer owning 50% of it they will not be contributing to 50% of the losses anymore.

If your going to hold HMV shares, you have to look on the bright side.

[clocktower] 14/1/2013 13:28

Looking at the other thread I noticed this post:

"Lady Liz 12 Jan'13 - 21:07 - 2639 of 2650 1 0


Banjo, The last time I dropped in I though you would see the share price rise, it did if you remember, and profits were made. Well guess what,I expect to be back and looking to go long sometime on Monday as I expect to see it spike in the coming week."

I recall last time Liz posted the share price shot up to 4p.

Was Liz the buyer of that 5m?

[totally banjo] 14/1/2013 13:26

errrr,wasn't that exciting-lol

[totally banjo] 14/1/2013 13:25

Missed this from a few days ago:

7digital Teams Up with Sourcetone to Deliver a Unique Health-Based Digital Music Experience


Partnership advances new roles for music classification technology benefiting moods, activities, & health in entertainment, lifestyle and wellness sectors.

New York, NY - January 6, 2012 - 7digital, a leading digital music and media delivery company, and Sourcetone, a New York City health-based, research-driven music streaming company, today announced a partnership in streaming music.

Sourcetone, a pioneering, research driven, music-health company, based in NYC helps people achieve healthy lifestyles through the joy of listening to music. 7digital provides digital music services to hundreds of partners globally including Samsung, Research In Motion, T-Mobile USA, and now to the streaming music company Sourcetone.

The partnership expands Sourcetone's streaming music library with 7digital's extensive music catalogue, made available to listeners through Sourcetone's music streaming products which include mobile apps, online radio, music for public spaces, as well as customized classification capabilities for third party use. Sourcetone's patent-pending Music Classification System Technology® (MCST™) has classified more than 12 million songs for its 21 Mood, Activity and Health channels. MCST™ is the core of Sourcetone's ground-breaking "lifestyle-driven" music products that promote unique music discovery/song management experiences for end users.

Malcolm Goodman, Co-Founder and President of Sourcetone stated, "I am excited that the integration of our research and technology with 7digital's high quality music delivery system advances our mission to help people and businesses benefit through the joy of listening to music."

"To make Sourcetone successful, we needed more than basic access to a large digital library", said Dr. Jeff Berger, Co-Founder and Chief Executive Officer of Sourcetone. Further stating, "7digital's team provides a highly flexible technology integration with the MCST™ engine that powers our Mood, Activity, and Health channels, and their capabilities and tech savvy were exactly what we needed to bring our music streaming products to market."

7digital's feature rich API allows partners to choose between a number of software methods and a global catalog of over 22 million songs from all the major and independent music label distributors and aggregators. The flexibility of this offering has provided music and lifestyle brands, major consumer electronics companies, carriers and partners from other sectors, a quicker, legally licensed approach to market. This is 7digital's first partnership with a company focused on the health and wellness sector.

Of the partnership, 7digital's President of North America, Vickie Nauman said, "We are very interested in working with organizations like Sourcetone that are concentrating on a specific and niche market for music. There are many companies trying to be everything to everyone, yet the history of music and radio demonstrate that targeted services for select music fans can be very successful. The research that Sourcetone has done to understand how music can be used in the health sector is impressive and we are excited to allow our API to provide a streaming and MP3 catalog in this setting."

Both companies will continue to work together to improve an already robust combined service, adding 400,000 new songs to the library each month and implementing advanced user personalization features. The joint partnership will enable Sourcetone to promote its 21 Mood, Activity and Health channels as the most comprehensive mood-based streaming offering available anywhere, on a scale not offered by anyone else in the world.

[graham2405] 14/1/2013 12:57

"The company is yours for £5m" + 170m of debt.

Yes, but would it not be better for him to wait for administration and get it debt free?

[goldfeverrush] 14/1/2013 12:57

M re reason why they will go BUST if they can't close stores because of the lease option to cut costs the PLUG will be pulled.The person which agreed to the lease contracts is to blame no get out clause.

[montyhedge] 14/1/2013 12:55

Actually Richard Branson would get a deal with the banks, have Virgin Records back, come on Branson, be the white knight. The company is yours for £5m

[montyhedge] 14/1/2013 12:53

I reckon Richard Branson, his has a soft spot for HMV. lol

[graham2405] 14/1/2013 12:51

Well, well, well, someone just bought/sold over 1% of HMV in one trade

[montyhedge] 14/1/2013 12:45

Must be Hendersons, probable the fund manager given the boot and they are dumping, lol

[montyhedge] 14/1/2013 12:44

I know one thing Hendersons must be sick buying just before figures in December. What they hold 10%.

[grittar] 14/1/2013 12:44

Someone's trying to unload a bundle of shares at 1.15p

[montyhedge] 14/1/2013 12:43

Graham
Come on anwser the question, if you not short with no interest what you wasting your life keep posting, at least I have a punt at 1.18p.

[graham2405] 14/1/2013 12:41

future minimum rentals payable under non-cancellable operating leases were as follows:

Total of £496m

Well worth stating it twice..............£496m

So the next time the CEO states no plans to close stores, you know why.

All IMHO

[montyhedge] 14/1/2013 12:41

Graham
You must be short of millions of shares then? Come on don't sit on fence, are you short?

[graham2405] 14/1/2013 12:37

"What about closing loss making stores"

Monty, have you looked at the accounts, if you had you may have noticed the figure for operating lease commitments.

-------------
Obligations under operating leases

The Group operates entirely from properties in respect of which commercial operating leases have been entered into. These leases have an average remaining duration of five years. At the end of the period, future minimum rentals payable under non-cancellable operating leases were as follows:

Total of £496m
-------------

Yes, four hundred and ninety six million.

This is why they can't just close stores!

They would have to pay the outstanding obligations under the terms of the leases, unless of course they can sell the lease onto someone else, which could be pretty difficult given all the empty shops.

Even more difficult when some property owners are happy to give companies 1 year rent free to sign a new lease.

Easy to open shops, bloody expensive to close them, hence all of those retailers ending in prepacks.....

Catching on?

[goldfeverrush] 14/1/2013 12:34

Monty how's the punt holding up?