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Tower.com Rights Back on the Block

27 Feb, 2007 By: Erik Gruenwedel

Tower Records continues to exist apparently as a coveted dotcom address, according to a filing last week with the U.S. Bankruptcy Court in Wilmington, Del.

The West Sacramento, Calif.-based music retail chain declared bankruptcy last year and shuttered operations in December following an asset liquidation sale.

The rights to Tower.com originally acquired for $3.8 million by Norton LLC, a San Francisco-based operator of vintage rock ‘n roll music sites, fell through when Norton realized the transaction did not include transfer rights to the site's customer list, according to the filing.

An auction of the rights to the Web site, which continues to operate, and international rights to the Tower name will be held March 13 at Tower's law firm in Wilmington.

About 142 Tower stores reportedly continue to operate independently in seven countries.

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