Tower Records Web Site and Trademark sells for $4.2M

A British Virgin Islands company has bought the Tower Records trademark and Web site for $4.2 million, according to a published report.

Struggling Tower Records has been sold to Caiman Holdings Inc. in a fierce battle with 4 other potential buyers. Caiman has said that they may open Tower Records stores in the United States and across the world, but not immediately. The brand of Tower Records is older than most may think, it was started in 1960 and even though you may never have shopped at TR, you know who they are. They really do have great brand recognition. If Caiman can put together a nice collection of complimentary services such as movie and music downloading with other entertainment content, they could really bring Tower Records back to be a force in the web 2.0 market.

Originally posted on Tuesday, March 20th, 2007
Venture Capitalism, Marketing, Domains.

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