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Best Buy is saying goodbye to movie-watching with physical discs. The consumer electronics retailer plans to phase out its DVD and Blu-ray sales by early 2024 — with physical movies set to be ...
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In 2001, Best Buy purchased their then parent-company, Musicland, for $685 million. [1] In January 2003, Best Buy closed 20 Suncoast stores as part of a larger closing that included 90 Sam Goody stores. [2] Later that year in June 2003, Sun Capital Partners assumed Musicland's liabilities from Best Buy. [3]
The store faced strong competition, particularly from websites like Amazon.com, which was founded in 1994 and provided a wider selection than the store-based Media Play. Therefore, despite Best Buy's major efforts, they failed to generate the results they were looking for with Musicland, losing $85 million (~$138 million in 2023) in 2002.
Hastings Entertainment was an American retail chain that sold books, movies, music, and video games and functioned as a video rental shop.As of 2016 it had 126 superstores, which were mainly located in the South Central United States, Rocky Mountain States, and in parts of the Great Plains and Midwestern states.