Oklahoma City-Based Music Retailer Fails to Recover after Buyout Bid.

Knight Ridder/Tribune Business News,  January, 2003  

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By Paul Monies, The Daily Oklahoman Knight Ridder/Tribune Business News

Jan. 2--Oklahoma City-based CD Warehouse Inc. filed for bankruptcy in July after a third money-losing year, protracted legal battles with franchisees and a failed buyout offer from an Internet-based music chain.

In a settlement reached last week in Oklahoma City's U.S. Bankruptcy Court, the company's assets will be auctioned off by Jan. 24. Chief Executive and President Christopher Salyer resigned as part of the deal and plans to bid on the assets through his family-owned Magnolia Entertainment Inc.

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