Sanctuary To Restructure In U.S. Amid 'Strategic Disposals'
March 29, 2007 at 11:04 AM (PT)
REUTERS reports that British music company SANCTUARY GROUP PLC said it was making good progress with its program of "strategic disposals" (NET NEWS 1/26), which seeks a return to overall profitability by 2008 or later, and that it would restructure its U.S. recorded music operations.
The company said in a statement today, "In response to the significant changes currently underway in the U.S. music market, to which our U.S. operations have not been immune, the Board has approved a proposal to restructure the Recorded Product division's U.S. operations."