Despite its war with online music sellers as a new era of downloadable music threatens traditional record stores, HMV has managed to outlive most of its high street competitors.Perhaps in a bid to continue to outsmart them - both online and on the high street - the retailer, which also owns bookseller Waterstone's, is about to enter a whole new sector.This month, HMV is expected to complete its ￡46m purchase of a 50% stake in live entertainment group Mama - it had already bought a 50% stake in the group in 2008. Analysts suggest the takeover could give theretailer a new lease of life, but this could come at the expense of its 276 high street stores.
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