HMV Group today branded Waterstone's Christmas performance "unsatisfactory" as it announced the departure of the book chain's boss.

Music and games firm HMV today shored up its position in the growing live music market after agreeing a £46m (€51.46m) takeover of MAMA Group.

Falling sales of celebrity biographies and travel books have hit high street bookshop Waterstone’s, the firm’s owner said today.