HMV has confirmed “a number of parties” are eyeing the entertainment retailer’s live venue arm.
HMV Live operates 13 venues, including the Hammersmith Apollo and festivals such as Lovebox and Global Gathering.
On Wednesday it emerged that O2 owner AEG was among the interested parties in the second round of bids looking to acquire the business, which is thought to have a price tag of around £65m. Venue operator Academy Music Group and private equity firm Oakley Capital were understood to be among first round bidders.
HMV issued a statement to the Stock Exchange issued this morning. It said: “HMV can confirm that this review remains on-going and that a number of parties have indicated an interest in acquiring the [live] business.
“At this stage, there can be no certainty that any transaction will be concluded and a further announcement will be made as and when appropriate.”
HMV Live is the most profitable part of the struggling entertainment retailer.
In the 26 weeks to October 29 HMV recorded a loss from continuing operations, before tax and exceptionals, of £36.4m. However, its live business more than doubled operating profit to £3.4m over the period.