Digital has claimed another victim. The parent company of Columbia House, the movie mail-order business, has filed for Chapter 11 bankruptcy protection, blaming the rise of the mp3, iTunes and video-on-demand for its decline. Columbia House revenue peaked in 1996 with $1.4 billion but has dropped ever since, hitting $17 million last year. Parent company Filmed Entertainment aims to sell the division. The company has $62.6 million in liabilities and $2.0 million in assets. Founded as a record distributor…Morning Edition RSS Feed via http://www.bizjournals.com/memphis/blog/morning_call/2015/08/columbia-house-files-for-bankruptcy.html?ana=RSS&s=article_search
http://memphissmbmedia.blogspot.com/2015/08/columbia-house-files-for-bankruptcy.html from Memphis SMB Media
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