As you may recall, earlier this year, the owner of Columbia House, Filmed Entertainment Inc., filed for chapter 11 bankruptcy, meaning that Columbia House was facing possible sale or liquidation.
John Lippman, an investment banker, bought the company for $1.5 million in a liquidation sale. He has now stated an intention to re-launch Columbia House as a vinyl service. However, he has not given specific plans. He did state, "For a category that is meaningful and growing rapidly, you donâ€™t see a whole lot of choice.â€ If the company is relaunched, we'll let you know.