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HMV
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===Flotation=== By 2002, EMI's holding in HMV Media was 43%, with Advent International owning 40% and management the remainder.{{citation needed|date=June 2020}} The company floated on the [[London Stock Exchange]] later in the year as HMV Group plc, leaving EMI with only a token holding.<ref>{{Cite news |date=11 April 2002 |title=HMV set for stock market debut |work=BBC News |url=http://news.bbc.co.uk/1/hi/business/1922991.stm |access-date=22 March 2015}}</ref> HMV operated a loyalty scheme branded as "purehmv", first launched in August 2003, but subsequently closed and relaunched in 2008.<ref>{{Cite web |date=30 December 2008 |title=HMV Plans Reward Card Roll Out |url=http://www.billboard.biz/bbbiz/content_display/industry/e3i935003166745e37d3e62fdb3722b6af0 |url-status=dead |archive-url=https://web.archive.org/web/20090625151959/http://www.billboard.biz/bbbiz/content_display/industry/e3i935003166745e37d3e62fdb3722b6af0 |archive-date=25 June 2009 |access-date=15 January 2009 |publisher=HMV}}</ref> The scheme awarded cardholders points for purchases, which could be collected and redeemed on a number of rewards including vouchers, memorabilia and signed merchandise. "purehmv" has since closed and will be replaced by a new loyalty scheme, the launch date of which is yet to be announced.<ref>{{Cite web |title=HMV Loyalty |url=https://purehmv.com/ |url-status=dead |archive-url=https://web.archive.org/web/20190805174334/http://purehmv.com/ |archive-date=5 August 2019 |access-date=5 August 2019 |website=purehmv.com}}</ref> The group became susceptible to a takeover following a poor period of trading up to Christmas 2005. Private equity firm [[Permira]] made a Β£762 million conditional bid for the group (based on 190p a share) on 7 February 2006, which was rejected by HMV as an insufficient valuation of the company.<ref>{{Cite news |date=13 March 2006 |title=Retailer HMV rejects bid approach |work=BBC News |url=http://news.bbc.co.uk/2/hi/business/4800548.stm |access-date=15 January 2009}}</ref> Permira made a second offer which increased the value, although HMV declined it on 13 March 2006, subsequently issuing a statement that the offer undervalued the medium and long term prospects for the company,<ref>{{Cite news |date=13 March 2006 |title=HMV rejects second bid approach |work=BBC News |url=http://news.bbc.co.uk/2/hi/business/4800548.stm |access-date=30 December 2006}}</ref> resulting in Permira withdrawing from bidding.<ref>{{Cite news |date=20 March 2006 |title=HMV suitor Permira abandons bid |work=BBC News |url=http://news.bbc.co.uk/2/hi/business/4826132.stm |access-date=30 December 2006}}</ref>
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