German Electronics Retailer Media Saturn Buying UK Downloads Supplier 24-7 Entertainment

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imageimageGerman electronics retailer Media Saturn is moving in to digital downloads by buying a controlling stake in British online and mobile media wholesale distributor 24-7 Entertainment.

Media Saturn operates its Media Markt and Saturn bricks-and-mortar electronics stores; operating behind the scenes. With licenses from over 12,000 record labels, 24-7 distributes music, ringtones and video to download services including British Omnifone’s MusicStation, all-you-can-eat Danish ISP TDC and mobile carrier 3 in Austria. 24-7 had already powered its new owner’s and download stores.

Can a real-world retailer expand in to online e-commerce? Media Saturn may just have secured a very smart piece of the underlying infrastructure in the growing downloads market, by taking control of its own distributor – we saw earlier this year how the collapse of Woolworth’s Entertainment UK distributor scuppered Woolies’ and Zavvi’s media downloads plans; Pinnacle Entertainment’s collapse also saw several online music stores come offline.

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May be a smart assets acquisitions but a very dumb Acquisition. Saturn just got itself into ongoing legal issues by acquiring 24-7. As a former shareholder 24-7 and the management engaged in systematic fraudalent practices and careful orchestration and doctrine of it's balance sheet to avoid fair compensation and obligations to it's shareholder. The legal suit will continue!

Former shareholder of 24-7 Entertainment

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