Barry Willis

Mergers and acquisitions are among the oldest tactics for commercial ventures that want to increase their power and presence. They are also increasingly popular in the non-commercial sector, according to a March 14 Associated Press report.

Wiz stores in bankruptcy: Only a week after being acquired from Cablevision by GBO Electronics Acquisition LLC, The Wiz stores initiated a bankruptcy petition in the District of Delaware to "maximize company assets," according to a March 14 press release from TW Inc., as The Wiz is now known. The 17-store electronics chain is seeking protection from creditors under Chapter 11 of US bankruptcy law and approval to conduct going-out-of-business sales at its stores in the New York metro area.

Wiz stores sold: Cablevision Systems has made good on its promise to exit the consumer electronics retail business. On March 6, the Bethpage, NY–based cable giant announced the sale of its 17 remaining Nobody Beats The Wiz stores to GBO Electronics Acquisition LLC in a stock transaction, effective immediately. GBO will assume The Wiz's assets and debt, according to a Cablevision statement.

The music industry's reaction to a prolonged sales slump has been a desperate effort to create legislative and technological deterrents to force consumers to stop downloading MP3s and copying CDs.