Report: Music and film companies back HMV rescue bid

In a HMV rescue deal led by restructuring firm Hilco, the high-street brand is also likely to get a further boost with music companies and film studios agreeing new supply terms with HMV, reports the Daily Telegraph.

The newspaper adds that music companies and film studies are backing the deal, as they are "desperate for the 92-year-old retailer to survive because it provides a high street presence for the entertainment industries and a rival to Amazon, Apple and UK supermarkets."

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HMV deal 'saves 2500 jobs'

Some 2,500 jobs at retailer HMV have been saved after restructuring firm Hilco agreed a deal to acquire 141 stores, including 23 which had previously been set for closure.