HMV’s live venue business is being eyed by the founder of Oakley Capital, which has a stake in Time Out magazine.

The entertainment retailer is exploring all options as part of its efforts to turn around the retailer, including hiving off Waterstone’s and its Canadian business.

Peter Dubens is thought to be interested in acquiring HMV’s Live business, which also runs festivals.

According to Sky News, it is not yet clear if Dubens is working as part of a consortium.

HMV is mulling the sale of Waterstone’s, and has given HMV shareholder Alexander Mamut 15 days to come up with an offer.

Yesterday (Tuesday) the retailer issued its third profit warning this year.