Blockbuster May Sell Off Music Stores

Wherehouse Entertainment, the Torrance-based music retailer, reportedly made an offer to purchase the Blockbuster Music chain from Viacom Inc., according to sources and a story in Tuesday’s Daily Variety. Though representatives of Viacom and Blockbuster would not confirm the reports, the 400-store chain--sister to the Blockbuster Video chain--is said to have been courting buyers. In 1997, the unit reported a $2.5-million loss and shuttered 77 stores. The 220-store Wherehouse recently emerged from bankruptcy and is enjoying improved music sales. Sources put the estimated value of Blockbuster Music at roughly $250 million.