Members DannyM Posted November 23, 2006 Members Share Posted November 23, 2006 Saw a post about MF taking over Music123. ----------------------- Guitar Center Signs Agreement to Acquire Substantially All the Assets of The Woodwind & The Brasswind Proposed Asset Purchase Arrangement Through The Woodwind & The Brasswind Bankruptcy Will Expand the Company's Direct Response Division WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Nov. 22, 2006--Guitar Center today announced that it has signed an asset purchase agreement to acquire substantially all the assets of The Woodwind & The Brasswind under section 363 of the United States Bankruptcy Code. Under the terms of the agreement, Guitar Center will acquire The Woodwind & The Brasswind's inventory of band and orchestra and combo instruments, accounts receivable, trade names and certain other intangible assets. The transaction is subject to a number of conditions, including bankruptcy court approval, and is also subject to overbid at a bankruptcy auction expected to be held in January 2007. Marty Albertson, Chairman and Chief Executive Officer of Guitar Center, said, "The acquisition of assets of The Woodwind & The Brasswind, including the Woodwind and Brasswind and Music123 websites, will enable us to further expand the already strong combo instrument business at Musician's Friend as well as build out our direct response band and orchestra business. We are excited about the opportunity to broaden our customer base and continue the growth of our direct response business." The Woodwind & The Brasswind filed for bankruptcy protection in Indiana on November 21, 2006. The proposed asset acquisition agreement was entered into by the Musician's Friend subsidiary of Guitar Center. Under the agreement, only very limited trade obligations and other pre-petition liabilities of The Woodwind & The Brasswind are being assumed. About Guitar Center Guitar Center is the leading United States retailer of guitars, amplifiers, percussion instruments, keyboards and pro-audio and recording equipment. Our retail store subsidiary presently operates more than 195 Guitar Center stores across the United States. In addition, our Music & Arts division operates more than 90 stores specializing in band instruments for sale and rental, serving teachers, band directors, college professors and students. We are also the largest direct response retailer of musical instruments in the United States through our wholly owned subsidiary, Musician's Friend, Inc., and its catalog and website, www.musiciansfriend.com. More information on Guitar Center can be found by visiting the Company's web site at www.guitarcenter.com. Business Risks and Forward Looking Statements This press release contains forward-looking statements relating to, among other things, the acquisition of substantially all of the assets of The Woodwind & The Brasswind. The forward-looking statements contained in this press release are not guarantees of future performance and in fact may not be realized. Actual results could differ materially and adversely from those expressed in this press release. Further, the statements made by us above represent our views only as of the date of this press release, and it should not be assumed that the statements made herein remain accurate as of any future date. We do not presently intend to update these statements prior to our next quarterly earnings release and undertake no duty to any person to effect any such update under any circumstances. Investors are also urged to review carefully the discussion under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2005 and our Quarterly Reports on Form 10-Q for subsequent quarters, which have been filed with the Securities and Exchange Commission and may be accessed through the EDGAR database maintained by the SEC at www.sec.gov. ---------------------- Link to comment Share on other sites More sharing options...
Members DenverDave Posted November 23, 2006 Members Share Posted November 23, 2006 Crap - one less competitor to MusicMart.... Link to comment Share on other sites More sharing options...
Members Soldano ROS Posted November 23, 2006 Members Share Posted November 23, 2006 I think they already have enough music related businesses. Link to comment Share on other sites More sharing options...
Members sekler Posted November 23, 2006 Members Share Posted November 23, 2006 wtf is this {censored} again...2 options to choose from now almost : guitar center or guitar center. Link to comment Share on other sites More sharing options...
Members DannyM Posted November 23, 2006 Author Members Share Posted November 23, 2006 There are still other choices:Sam Ash, Same Day Music, ZZ Sounds, American Musical, Matts Music, Drum City Guitar Land Dont forget aboutRock Solid Amps, Splawn and Voodoo Amps. and the various spam threads, forums and ebay. Link to comment Share on other sites More sharing options...
Members Cochise Posted November 23, 2006 Members Share Posted November 23, 2006 Originally posted by DannyM There are still other choices:Sam Ash, Same Day Music, ZZ Sounds, American Musical, Matts Music, Drum City Guitar LandDont forget aboutRock Solid Amps, Splawn and Voodoo Amps.and the various spam threads, forums and ebay. and still other choices Link to comment Share on other sites More sharing options...
Members Kenny Powers Posted November 23, 2006 Members Share Posted November 23, 2006 didnt GC buy sam ash recently too? Link to comment Share on other sites More sharing options...
Members Allthewayto11 Posted November 23, 2006 Members Share Posted November 23, 2006 I wonder if the appropriate Hart-Scott-Rodino disclosures are getting filed (so gov't regulators can figure out if there are any anti-trust concerns)? This is starting to feel like a potential monopoly--aren't Guitar Center and MF commonly held--didn't Sam Ash just get acquired? WTF is going on here? Link to comment Share on other sites More sharing options...
Members gizzi Posted November 23, 2006 Members Share Posted November 23, 2006 i thought MF owned american musical supply (AMS)? well, i suppose once MF/GC owns all their competetors (or most of them anyway), they'll be free to charge what they want. Link to comment Share on other sites More sharing options...
Members dethmetalanimal Posted November 23, 2006 Members Share Posted November 23, 2006 Originally posted by nvcreations didnt GC buy sam ash recently too? YEP Link to comment Share on other sites More sharing options...
Members blackba Posted November 23, 2006 Members Share Posted November 23, 2006 Crap, I liked music123/WW&BW. I hate going in GC. It seems its getting harder and hard to avoid MF. Is it big enough to be a monopoly yet? Link to comment Share on other sites More sharing options...
Members phyrexia Posted November 23, 2006 Members Share Posted November 23, 2006 just find a local place that'll pricematch. Link to comment Share on other sites More sharing options...
Members J Kylez Posted November 23, 2006 Members Share Posted November 23, 2006 Never would have guessed......... I start getting catalogs with the same cover photo as musicians friend................ Link to comment Share on other sites More sharing options...
Members LnTh Posted November 23, 2006 Members Share Posted November 23, 2006 Who buys new anyway Link to comment Share on other sites More sharing options...
Members BrendanO Posted November 23, 2006 Members Share Posted November 23, 2006 Originally posted by phyrexia just find a local place that'll pricematch. Many simply cannot. Link to comment Share on other sites More sharing options...
Members Maxx61 Posted November 23, 2006 Members Share Posted November 23, 2006 Guitar Centers are the soul harvesters of the music industry but on a good note, if they swallow up most of the competition, they'll have no need to advertise and thus, we'll be sparred the monthly "sale of the century" radio ads. Link to comment Share on other sites More sharing options...
Members atbear Posted November 23, 2006 Members Share Posted November 23, 2006 Musiciansbuy.com is great to deal with. Link to comment Share on other sites More sharing options...
Members Alanfc Posted November 23, 2006 Members Share Posted November 23, 2006 http://www.sweetwater.com/ http://www.samedaymusic.com/ http://www.zzounds.com/ http://www.americanmusical.com/ http://www.musician.com/ Link to comment Share on other sites More sharing options...
Members mister kyo Posted November 23, 2006 Members Share Posted November 23, 2006 Originally posted by phyrexia just find a local place that'll pricematch. not that easy my friend. how can a local store, which orders items in quanities of maybe 4 or 5 at a time, match a business which orders more than that per store? Link to comment Share on other sites More sharing options...
Members Flinty Posted November 23, 2006 Members Share Posted November 23, 2006 Sam Ash is not owned by Guitar Center (yet anyway). Zzounds, Sam Day Music, and AMS are all owned by the same company. And, GC is no where near being a monopoly. Link to comment Share on other sites More sharing options...
Members cobrahead1030 Posted November 23, 2006 Members Share Posted November 23, 2006 musc123's service has gone down the {censored}ter anyhow Link to comment Share on other sites More sharing options...
Members Gitfiddler Posted November 23, 2006 Members Share Posted November 23, 2006 Originally posted by DannyM Saw a post about MF taking over Music123. ----------------------- Guitar Center Signs Agreement to Acquire Substantially All the Assets of The Woodwind & The Brasswind Proposed Asset Purchase Arrangement Through The Woodwind & The Brasswind Bankruptcy Will Expand the Company's Direct Response Division WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--Nov. 22, 2006--Guitar Center today announced that it has signed an asset purchase agreement to acquire substantially all the assets of The Woodwind & The Brasswind under section 363 of the United States Bankruptcy Code. Under the terms of the agreement, Guitar Center will acquire The Woodwind & The Brasswind's inventory of band and orchestra and combo instruments, accounts receivable, trade names and certain other intangible assets. The transaction is subject to a number of conditions, including bankruptcy court approval, and is also subject to overbid at a bankruptcy auction expected to be held in January 2007. Marty Albertson, Chairman and Chief Executive Officer of Guitar Center, said, "The acquisition of assets of The Woodwind & The Brasswind, including the Woodwind and Brasswind and Music123 websites, will enable us to further expand the already strong combo instrument business at Musician's Friend as well as build out our direct response band and orchestra business. We are excited about the opportunity to broaden our customer base and continue the growth of our direct response business." The Woodwind & The Brasswind filed for bankruptcy protection in Indiana on November 21, 2006. The proposed asset acquisition agreement was entered into by the Musician's Friend subsidiary of Guitar Center. Under the agreement, only very limited trade obligations and other pre-petition liabilities of The Woodwind & The Brasswind are being assumed. About Guitar Center Guitar Center is the leading United States retailer of guitars, amplifiers, percussion instruments, keyboards and pro-audio and recording equipment. Our retail store subsidiary presently operates more than 195 Guitar Center stores across the United States. In addition, our Music & Arts division operates more than 90 stores specializing in band instruments for sale and rental, serving teachers, band directors, college professors and students. We are also the largest direct response retailer of musical instruments in the United States through our wholly owned subsidiary, Musician's Friend, Inc., and its catalog and website, www.musiciansfriend.com. More information on Guitar Center can be found by visiting the Company's web site at www.guitarcenter.com. Business Risks and Forward Looking Statements This press release contains forward-looking statements relating to, among other things, the acquisition of substantially all of the assets of The Woodwind & The Brasswind. The forward-looking statements contained in this press release are not guarantees of future performance and in fact may not be realized. Actual results could differ materially and adversely from those expressed in this press release. Further, the statements made by us above represent our views only as of the date of this press release, and it should not be assumed that the statements made herein remain accurate as of any future date. We do not presently intend to update these statements prior to our next quarterly earnings release and undertake no duty to any person to effect any such update under any circumstances. Investors are also urged to review carefully the discussion under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2005 and our Quarterly Reports on Form 10-Q for subsequent quarters, which have been filed with the Securities and Exchange Commission and may be accessed through the EDGAR database maintained by the SEC at www.sec.gov. ---------------------- pretty soon, Wal-Mart will take over GC/Musician's friend 24 hour music store/autorepair/pharmacy Link to comment Share on other sites More sharing options...
Members Kenny Powers Posted November 23, 2006 Members Share Posted November 23, 2006 Originally posted by Flinty Sam Ash is not owned by Guitar Center (yet anyway). Zzounds, Sam Day Music, and AMS are all owned by the same company.And, GC is no where near being a monopoly. thats not what was posted a few days back Link to comment Share on other sites More sharing options...
Members Cowinacape Posted November 23, 2006 Members Share Posted November 23, 2006 Well {censored}ing lovely, if GC does/is takes over music 123, that will be one more place not delivering outside of the US, so {censored} 'em all, {censored} MF too for their stupid, we deliver to Canda but for only three or four months. :mad: :mad: When MF first announced they where going to start deliveries to Canada, I thought cool, and right away I was buying some stuff, then a couple months later, I was able to go piss up a rope no more international service, douche bags! :mad: Link to comment Share on other sites More sharing options...
Members ebsbert Posted November 23, 2006 Members Share Posted November 23, 2006 Originally posted by Alanfc http://www.sweetwater.com/http://www.samedaymusic.com/http://www.zzounds.com/http://www.americanmusical.com/http://www.musician.com/ I hate to break it to you, but samedaymusic, zzounds, and americanmusical are all the same company - just three different Internet store fronts. Link to comment Share on other sites More sharing options...
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