Support Our Site
Get Better Gear!
- Madden NFL 10: The Grizzled Veteran from Electronic Arts, US$9.99
- NFL 2010: Rookie of the Year from Gameloft, US$2.99
- UNIEA Intrecciato, U-Pouch and U-Hip Pop iPhone Cases from UNIEA, $34.95, $22.95, $29.95
- Kensington Windshield/Vent Car Mount with Sound Amplified Cradle for iPhone from Kensington, $39.99
- SigFx Energy iPhone Case Contains Smart Battery from SigFx Energy, US$69.95
Premier Sponsors
Top 5 Free Apps
iTunes New Music Releases
Top 5 Paid Apps
Discover New Music
- Rush
- We all know it, right? Well, ya just gotta have it. 2112 finally showed Rush out on their own, doing their own thing, and doing it well, IMHO.
- R.E.M.
- In the long series of R.E.M.'s evolution, this album (finally?) showcases their ability to capture on tape what had been happening in the live for years: heartfelt, sweat-filled performances that just
How to Dismantle an Atomic Bomb
- U2
U2's latest entry is a mostly underwhelming collection of songs that does very little to sound any different from its equally pedestrian predecessor, 2000's "All That You Can't Leave Behind." While
- Modern Lovers
This timeless masterpiece is little known, but it has inspired almost as many bands as The Modern Lovers' own inspiration -- and only slightly better known -- The Velvet Underground & Nico.
- Prefuse 73
- It's an album about a breakup, done with beats instead of mopey lyrics. But the beats are raw, and the emotions are there, even if there aren't many words on top of it. While possibly not Scott Herren
Reader Specials
Visit Deals On The Web for the best deals on all consumer electronics, iPods, and more!
News
Tower Records Files for Bankruptcy
Monday, August 21st, 2006 at 3:00 PM - by Jeff Gamet
The brick-and-mortar music chain Tower Records filed for Chapter 11 bankruptcy protection on Sunday for the second time in three years. BusinessWeek reports the company hopes to sell its assets through a court supervised auction scheduled for October 5 - and that the buyer will keep the chain open.
Music stores like Tower have been hurt by stiff competition in recent years from retailers like Wal-Mart, Target, and Best Buy, Amazon.com, and now online music services like the iTunes Music Store. Musicland succumbed earlier this year when it sold its assets, including its Sam Goody stores, to Trans World Entertainment. Trans World is one of the potential suitors for Tower's assets, too.
Tower specifically cited legal music download services as a major contributing factor to its financial troubles. The company noted in its court filing that album sales for 2005 dropped 7.8 percent while sales from the iTunes Music Store and other online services rose 200 percent.
Lisa Amore, a spokesperson for Tower Records, stated that the company intends to keep the Tower brand alive. Inside Digital media senior analyst, Phil Leigh, has a more pessimistic outlook. "I think they'll sell off the name and liquidate the inventory," he said.
Recent Headlines
- EA Publishes Original Monopoly for iPhone
- New iPhone Games: Secret of the Lost Cavern Ep 1, New DJ Nights, More
- Musée du Louvre, Art Lite, SketchBook Mobile X and More.
- GelaSkins Intros Tim Burton, Bettie Page, WETA iPhone Skins
- iPhone Gets the Green Light in South Korea
- Qualcomm Hopes to Get In On the iPhone Action
- Ice Age: Dawn of the Dinosaurs Lands at App Store
Post Your Comments