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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]
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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The exterior of a video rental store in Austin, Texas (closed in 2020) A display case of DVDs in a former Blockbuster video rental store. A video rental shop/store is a physical retail business that rents home videos such as movies, prerecorded TV shows, video game cartridges/discs and other media content.
The company moved forward with its largest single-chain acquisition to date, expanding its base of stores by 30%, in late December 2001. The addition of Video Update stores to the Movie Gallery family launched the company's international presence with 100 retail locations in Canada. Movie Gallery achieved the 1,678 store mark in 2002. [6]