Consumer electronics retailer Best Buy is launching an investment fund that will focus on the digital media space in partnership with Velocity Interactive Group. The fund will be managed by some current and former News Corp veterans.
Best Buy intends to use the fund to expand beyond brick and mortar stores. The company purchased online music subscription service Napster in 2008 for USD121m and now aims to invest deeper in the online content space.
StrategyEye's related categories: Device Retailers - General Electronics, Online Music, Online Retail
StrategyEye's related companies: Best Buy Co., Inc., Velocity Interactive Group
