Live Entertainment Inc., a Van Nuys-based videocassette distributor, said it has completed the sale of its specialty retail division, which consists of a chain of 150 music stores on the East Coast, to a group headed by the division's former top executives.
The purchasing group, Strawberries Inc., said it paid $35 million and assumed an undisclosed amount of debt.
The music store chain, which has outlets in 11 states under the trade names Strawberries and Waxie Maxie's, was purchased by a group including Ivan Lipton, former president of the specialty retail division, other senior managers of the division, Castle Harlan Inc., and the Jefferson Capital Group.
