Retail commercial property, Sainsbury’s have purchased the majority share in HMV Group plc’s e-book, Anobii Limited for just one pound. The sale will give Sainsbury’s a 64 per cent stake in the company; bringing them further into the digital market – a strategic goal of theirs.
Anobii currently has around 60,000 e-books available to download with approximately 600,000 users. The service integrates e-books with social media, by allowing users to not only purchase e-books, but also to review, rate, share and discuss books with fellow users.
So no matter where you are, whether you are at home, shopping in a commercial property or enjoying a coffee, the e-books are always available.
The purchase by Sainsbury’s is a step in the right direction for the company to achieve its strategy to deliver digital services. Speaking of the acquisition, Mark Bennett, Head of Digital Entertainment at Sainsbury’s, said: “Anobii’s innovative use of social media is a clear differentiator. This acquisition is a valuable addition to our digital portfolio and shows our commitment to becoming a key player in the digital entertainment market.
“It further demonstrates how we are constantly looking to innovate and seize opportunities that will support the future growth of our business.”
This is not the only asset HMV have recently sold. Only last month, the group sold The Hammersmith Apollo, an iconic music commercial property for £32 million. But will the sale of these assets help the struggling retail commercial property chain to survive? Or is HMV on the verge of following Clinton Cards into administration?
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