AppNewser Appdata 10,000 Words FishbowlNY FishbowlDC TVNewser TVSpy LostRemote AgencySpy PRNewser MediaJobsDaily UnBeige SocialTimes

Today in Wottakar’s: HMV officially makes the buy

Has the saga finally ended? Will WHSmith counter-offer? It’s all so exhausting to keep up, but Reuters reports that HMV will finally, finally buy Ottakar’s for a cut-price 62.8 million pounds (or a measly 285p per share) to help its own books chain cope with stiff competition from supermarkets and the Internet.

“Over the past year the book market has undergone a significant change with new levels of competition from the supermarkets and on-line retailers impacting all specialist booksellers and in particular those with insufficient scale to compete on equal terms,” Ottakar’s Chairman Philip Dunne said in a statement, explaining why he was backing HMV’s offer.

As it happens, on Tuesday, Ottakar’s shares closed at 287p, just above HMV’s offer price. Not exactly a huge profit margin going on here..

Mediabistro Course

Freelancing 101 Online Boot Camp

Freelancing 101Starting April 28, this online event will show you the best way to start your freelancing career, from the first steps of self-advertising and marketing, to building your schedule and managing clients. By the end of this online boot camp you will have a plan for making a profitable career as a freelancer, and the skill set to devote yourself to it. Register now!