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Article: TRANS WORLD TO BUY BIG RIVAL.(MAIN)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- October 27, 1998
CopyrightCOPYRIGHT 1998 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: JO-ANN JOHNSTON Business writer
Music retailer Trans World Entertainment Corp. is trying to go to the top of the charts with a new purchase that will make it a $1 billion company.
Trans World announced it is buying rival Camelot Music Holding Inc. of North Canton, Ohio, for about $425 million in stock and assumable debt. The union will make Trans World the biggest operator of music stores in shopping malls in the United States. The new company will have more than 1,000 stores in 44 states.
Upon completing the deal, Trans World will become the largest publicly traded corporation headquartered in the Capital Region.
``We've ...