Departing HMV boss Simon Fox was named the new chief executive of another beleaguered media company, newspapers group Trinity Mirror.
The announcement came as a surprise appointment since Mr Fox had not previously been mentioned as a possible contender because he has little experience of newspapers, although he is a non-executive director of Guardian Media Group.
Mr Fox formally steps down from HMV next Monday after a torrid six-year reign during which the share price has nosedived as the music retailer struggled with the rise of digital and the collapse of CD sales. But some analysts believe he deserves credit for keeping HMV afloat when other retailers such as Woolworths and Zavvi went to the wall. He turned down the chance to run ITV in 2009 as he felt he should not duck the HMV challenge.