Friday, 15 June 2012

Tesco bought 91% of We7 for £10.8m

"Tesco has bought the digital music service We7 for £10.8m as the retail giant moves further into home entertainment.
The supermarket company has taken a 91% stake in London-based We7, with the remaining shares to be purchased within weeks.
Genesis frontman Peter Gabriel is expected to make a £2m windfall from the deal from his We7 stake. He founded the "digital jukebox" with Steve Purdham, the chief executive, in 2007."

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