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Tweeter Home Entertainment Group, Inc., whch declared Chapter 11 bankruptcy on June">http://stereophile.com/news/061807chapter11/">June 11, accepted a $38 million bid for a "going concern" acquisition from Schultze Asset Management, a firm specializing in "distressed positions."

Things looked grim for Internet radio late last week. On July 11, the DC Circuit Court of Appeals declined to delay the increasehttp://stereophile.com/news/031907internet/">increase; in digital performance royalties the Copyright Royalty Board imposed last March. The new fees were scheduled to go into effect on July 15, retroactive to the beginning of 2006.

The New York Times reported on July 2 that Universal Music Group notified Apple that it will not renew its annual contract to sell music through the iTunes Store, choosing instead to sell music to Apple "at will," meaning it could withdraw its wares with little notice. Executives of both companies declined to comment.

As we reportedhttp://stereophile.com/news/030507kreisel/">reported; last March, Ken">http://stereophile.com/interviews/136/">Ken Kreisel declared bankruptcy, closing M&K Sound after 34 years of operation. Last week, the Great American Group, which, according to its website, "provides asset management, disposition, and financial services," announcedhttp://www.greatamerican.com/admin/uploads/events/047adb79-a055-4a5a-95…; that it would offer M&K's $3 million in assets at auction on July 19.

On Thursday, June 28, the US Supreme Court voted 5-4 that manufacturers could impose minimum prices if "they promote competition." The case—Leegin v. PSKS—involved Leegin Creative Leather Products, Inc., a California-based manufacturer of women's fashion accessories, which argued that it had the right to set minimum consumer prices on its products to maintain price consistency among the niche retailers it sold to. Those stores, Leegin argued, emphasized customer service, which allowed them to compete with discount retailers that are selling more widely distributed, inexpensive products.

Now that more and more music lovers are turning to the Internet to purchase CDs, DVDs, and downloadable files#151;see WP's story">http://www.stereophile.com/news/062507itunes3/">story on iTunes this week—Naxos isn't taking any chances. The world's largest classical music label, whose US branch, Naxos of America, also claims to be the #1 independent distributor of classical music in the US, has recently set up multiple websites to lure music lovers into the fold.

According to market research company NPD Group, in the first quarter of 2007, Apple's iTunes Store has overtaken Amazon.com and Target to become the US's third largest music retailer with 9.8% of all music sales. Apple counts 12 track sales as equivalent to one CD sale, meaning that the company is responsible for nearly 21 million of the quarter's 212 million CD sales.