Buyers line up for HMV Live venues

A NUMBER of potential buyers are in the running to buy HMV’s live music arm with the owner of London’s O2 Arena seen as one of the favourites.

The entertainment group has previously said it was placing HMV Live, which runs venues including Edinburgh’s Picture House where rock veterans UFO are playing tonight, under review which may lead to its sale.

In a statement yesterday HMV, which sold bookseller Waterstones last year, confirmed “a number of parties have indicated an interest in acquiring the business”.

O2-owner AEG, controlled by Philip Anschutz, one of America’s richest men, is reportedly preparing a £65 million bid for the division which runs 13 venues and a number of festivals including Lovebox in London and Global Gathering near Stratford-upon-Avon.

Other suitors are thought to include Academy Music Group – which owns the Brixton Academy and Shepherd’s Bush Empire – and Oakley Capital, the private equity firm behind Time Out magazine.