Since Tim Waterstone can't go around making noises about buying his company back from the evil HMV overlords*, he had to find something else to do. And so he has, according to the Glasgow Herald, who report that Waterstone, the founder of Waterstone's and former chairman of HMV Media Group, was named yesterday as the new chancellor of Napier University in Edinburgh. For many years a lecturer throughout Britain and Europe on entrepreneurial affairs, he will be officially inaugurated on November 15 as part of the university's November graduations.

Waterstone said: "I am honoured to have been given this exceptional opportunity. I have long been aware of Napier University and its reputation for forward-thinking and confident graduates. I am keen to draw from my own experiences to link in with the curriculum in the areas of business, music and the centre for entrepreneurship to name just three. There are also several exciting new initiatives which I am very keen to get involved in and take forward in my role."

We kid, we kid. Mostly, anyway...