Rotten News Of The Day

From HITS:

TRANS WORLD TAKES TOWER: Trans World emerged yesterday as the winner in the derby to acquire Tower Records. Following an announcement yesterday that white knight bidder Radius Equity Partners---the only entity other than Trans World bidding for the entire chain, which included music bizzers Michael Ostin and Nile Rogers---had failed to raise the capital needed to enter the auction, TW outbid all other companies that were seeking to buy disparate parts of the legendary chain. No figures were immediately available. More to come.

That'll be really comforting to go back to Virginia to find the Fairfax Town Center Tower Records (a location carrying tremendous sentimental value for me) turned into an FYE.

Update: I realize that Transworld was outbid by a liquidator shortly thereafter. Whatever.