Since January, HMV and MAMA have been partners in their Mean Fiddler joint venture, which runs venues in London, Birmingham, Edinburgh and Aberdeen.
HMV chief executive Simon Fox said: "Our joint venture has worked well since its formation and the full combination of HMV and MAMA will enable us to accelerate our growth into live music.
HMV's takeover offer for MAMA, which is still subject to approval from shareholders, comes after the group rejected earlier bids from Luxembourg-based investment firm SMS Finance. SMS is currently the biggest shareholder in MAMA, with a 29.8% stake. However, HMV says its approach has the support of investors owning nearly 34% of MAMA's shares, including MAMA's directors.
(Jim Evans)
