2006 Year in Review: FEBRUARY
1 Jan, 2007
By: Thomas K. Arnold
With Paramount closing its acquisition of DreamWorks SKG, the boutique label's worldwide home entertainment head, Kelley Avery, is installed as president of Paramount Home Entertainment, replacing Thomas Lesinski, who becomes president of the new Paramount Digital Media Group. Blockbuster Online, in its latest ploy to woo Netflix customers, is offering subscribers four free in-store rentals a month. The offer is announced in national ads before and after the Feb. 5 Super Bowl. The Walt Disney Co. begins offering new theatrical and direct-to-video titles on its MovieBeam video-on-demand service the same day they come out on DVD. The service is available in 29 cities, including Chicago, Los Angeles and New York. Trans World announces plans to buy bankrupt Musicland's remaining stores in a $104 million cash bid that would also see the audio-video combo chain assuming $17.1 million of its former rival's liabilities. The acquired stores will either be converted to Trans World brands or closed down.
Trans World announces plans to buy bankrupt MusiclandÆs remaining stores, therefore assuming $17.1 million of its liabilities.