In April 2001, we
acquired American Music Group, Ltd. and its related companies, a musical
instrument retailer specializing in the sale and rental of band instruments and
accessories serving the student and family market. In April 2005, we
acquired Music & Arts Center, Inc., a Maryland-based musical
instruments retailer which primarily serves the beginning musician and
emphasizes rentals, music lessons and band and orchestra instrument sales.
Subsequent to the Music & Arts Center acquisition, our American Music
and Music & Arts Center businesses were combined into a new division
of our retail store subsidiary that operates under the...
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