HMV said last month: "The Board has initiated a strategic review of HMV Live which may lead to its sale, the proceeds of which would strengthen the financial position of the Group."
Time Out owner Oakley Capital is reported as one of a number of potential buyers for HMV Live, which runs 13 venues including the Hammersmith Apollo and the Jazz Cafe in London.
Other parties also said to have contacted Citigroup, which is conducting the sale of HMV Live, include O2 arena owner AEG, NEC and a number of music publishers that are interested in running live music venues.
HMV's Simon Fox is confident that the live arm will fetch more than the £60m HMV originally paid for it.
Via The Telegraph