Sports Direct founder Mike Ashley is reportedly in talks to buy music chain HMV. Mr Ashley has held talks with key music and entertainment industry suppliers to HMV in the last fortnight with a view to acquiring the UK's last-remaining national music chain. HMV collapsed just three days after Christmas when its parent company, HMV Retail, was forced to appoint administrators for the second time in six years. Mr Ashley, who in the last six months has bought House of Fraser and Evans Cycles in pre-pack insolvency deals, was one of a handful of parties to lodge formal offers with KPMG ahead of a deadline on 15 January. He is understood to believe that music and other entertainment products could be a valuable addition to parts of his high street empire, including Sports Direct. The tycoon is already a significant shareholder in Game Digital, the listed chain, and could pursue a move to merge it with HMV if he gains control of the music chain.
