HMV Calls On Labels

HMV Calls On Labels

British broadsheet newspaper The Sunday Times has reported that HMV has asked EMI, Sony Music, Universal and Warner Music to consider allowing the retailer to buy catalog CDs on a sale-or-return basis, with only a nominal upfront payment. The paper estimates the move would save HMV approx £15 million ($24.5 million) in costs, which could then be used to pay off a portion of its £130 million ($212.7 million) debt burden.

billboard.com