• The Drum, Tuesday, January 27, 2015 7:52 AM

Tesco has failed to reach an agreement with Waterstones for the sale of Blinkbox Books, despite entering a period of exclusive talks, which will result in the closure of the e-book business in the coming weeks. Tesco managed to sell its movie business to TalkTalk for an estimated £25m, while its music arm was sold yesterday to Guvera for an undisclosed sum. A spokesperson told The Drum that the talks with Waterstones had "failed to reach a positive outcome" but declined to go into the specific financial terms.

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