Music Industry

Canada’s Sunrise Records just made a last-second bid to buy HMV worldwide

HMV is in big trouble. The Canadian version is gone. HMV Hong Kong is dead. Stores have disappeared in a host of other countries. And now HMV UK is in administration (i.e. gone bankrupt) again.

There have been a few offers to pick up the pieces. A company called Sports Direct (owned by billionaire Mike Ashley, the owner of Newcastle United) signaled they were interested. There was also interest shown by a company called BuyVia.

Now, though, a surprise. Doug Putnam, the CEO of Sunrise Records based in Ancaster, Ontario, has made a bid for HMV UK. Putman previously took over 70 HMV stores in Canada and turned them all into Sunrise Records locations.

How many of the remaining 125 stores does he want? Uncertain, but some reports point to Sunrise taking about two-thirds of them. With ~90 locations, Sunrise would immediately become a major player in the UK. And on the eve of Brexit, too. Bold.

The Sports Direct offer needs to be negotiated this week. If not, the door is wide open for Sunrise.

Damn, this is getting interesting. Read more here and here.

Alan Cross

is an internationally known broadcaster, interviewer, writer, consultant, blogger and speaker. In his 40+ years in the music business, Alan has interviewed the biggest names in rock, from David Bowie and U2 to Pearl Jam and the Foo Fighters. He’s also known as a musicologist and documentarian through programs like The Ongoing History of New Music.

Alan Cross has 38162 posts and counting. See all posts by Alan Cross

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