I don't know if it's good news or bad news. But I think it's big news. The sale is hoped to reduce the company's debt and create some room for expansion/improvement.
Ares Management Gains Control of Guitar Center - WSJ.com
As most of us know, Guitar Center's subsidiaries include Music and Arts, WWBW, MusiciansFriend, Music123, Giardinelli, and others. They might be the largest music instrument retailer. Although I wonder if Amazon will surpass them.
Tongue-in-cheek warning ...
This appears to be good news, and hopefully will help balance the bad news released in February that only 88% of Guitar Center customers become famous musicians.
New Study Finds Only 88% Of Guitar Center Customers Become Famous Musicians | The Onion - America's Finest News Source