According to this article in the New York Times, Tower Records is no more. They have thrown in the towel. I see this as a big result of the popularity of online distribution of music. With iTunes making such a splash and the availability of CDs from so many sources online, the need for the traditional “record store” is all but over. People used to goto record stores to discover new musics and sample tunes, but now you can do all that on myspace or purevolume or practically all over the web. Just a sample of things to come in the world of purchasing media.

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