AOL Time Warner Unloads DVD/CD Biz for $1B AOL Time Warner 10¾ï ´Þ·¯¿¡ DVD/CD »ç¾÷ óºÐ
Internet giant AOL Time Warner has announced the sale of its DVD and CD manufacturing and distribution concerns to Canada-based Cinram International for US$1 billion in cash. The sale is a move to reduce the company's massive debt by shedding one of its non-strategic corporate assets.
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The transaction includes the sale of Warner Music Group properties Warner-Elektra-Atlantic Corporation (WEA) Manufacturing, Warner Music Manufacturing Europe, Ivy Hill, Giant Merchandising and WEA's physical distribution operations.
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Warner Music Group and AOL Time Warner's Warner Home Video and New Line Cinema businesses also have reached agreements providing that Cinram will serve as the manufacturer and distributor for their DVDs and CDs in North America and Europe.
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