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Sanity Entertainment, Owner of Virgin, HMV, Sells to Management Team for Undisclosed Sum

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Written by Marc Pallisco   
Saturday, 26 September 2009 07:04

SANITY Entertainment has been sold to its management team for an undisclosed sum, signalling the end of the retail music business for entrepreneur Brett Blundy.

Sanity Entertainment, established 17 years ago by Blundy's Brazin Group and later becoming part of the Brett Blundy Retail Capital (BBRC) fund is reported will now focus on music, and movies, going forward.

Sanity Entertainment includes 238 stores around the country, branded as Sanity, Virgin and HMV.

 

According to Inside Retailing, Sanity Entertainment holds around 25 per cent of the Australian music market, ranking it second behind JB Hi Fi.