Live Entertainment Subsidiary Buys Navarre

Van Nuys-based Live Entertainment’s wholly owned subsidiary, Lieberman Enterprises, said it completed its acquisition of Navarre Corp., a Minneapolis distributor of music and personal computer software and accessories with $40 million in annual revenues. Terms of the acquisition were not disclosed.

Lieberman, also based in Minneapolis, supplies records and videocassettes to retailers. It said the addition of Navarre would give it more than 1,300 employees nationwide. Eric Paulson, Navarre’s founder, will become a Lieberman executive vice president and chief operating officer.

Live Entertainment also said it signed a definitive agreement to acquire Waxie Maxie Quality Music Co. for $11.75 million. Waxie Maxie operates 34 retail stores that sell recorded music in Washington, D.C., Virginia and Maryland.

Live Entertainment’s other subsidiaries include International Video Entertainment, which owns video rights to feature films, and the 85-store Strawberries Records, Tapes and CDs chain.