Newswire: R.I.P. Columbia House (for now)

On Monday, the current owner of Columbia House—whose shady math The A.V. Club wrote about back in June—filed for chapter 11 bankruptcy protection in New York, surprising everyone who had no idea the mail-order media behemoth was still in business. The Wall Street Journal reports that Filmed Entertainment Inc., whose parent company, Pride Tree Holdings Inc., bought Columbia House in 2012, blamed “the advent of digital music and dramatic changes in technology that are threatening to render CDs and DVDs obsolete” for the filing. As a result, FEI’s 2014 net revenue was a paltry $17 million, a far cry from the $1.4 billion Columbia House reportedly generated in 1996.

“This decline is directly attributable to a confluence of market factors that substantially altered the manner in which consumers purchase and listen to music, as well as the way consumers purchase and watch movies and television …

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