HMV set to sell venue

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The HMV Picture House in Edinburgh is expected to be among the live music venues the entertainment chain is considering selling off in the wake of announcing half-year pre-tax losses of £45.7 million.

HMV yesterday said it was putting its profitable HMV Live music operation – which has 13 venues – under a review which could lead to a sell-off.

The firm has faced a significant downturn due to the decline of CD and DVD markets.