Entertainment giants could save HMV

jpco/16/1/13 HMV store in Crawley (Pic by Jon Rigby)
jpco/16/1/13 HMV store in Crawley (Pic by Jon Rigby)

Music labels and film studios are reportedly planning to throw their weight behind a rescue deal for the collapsed retailer HMV, which has stores in Horsham and Crawley.

Entertainment giants including Universal Music, Warner Music and Sony are apparently considering offering suitors generous credit terms and cutting the price of CDs and DVDs to help keep HMV’s presence on the high street.

According to The Sunday Times, the companies are fearful that the demise of HMV will lead to even more pressures on the industry as supermarkets and online firms, such as Amazon, compete to slash prices.