According to The Wall Street Journal, the company, which just this summer filed for bankruptcy, has been resurrected by John Lippman. The former Lehmann Brothers executive bought the company out of bankruptcy last month and is planning to relaunch the service to tap into the resurgence of popularity of vinyl.

'You can see a yearning and an interest to try a new format," Lippman said about how vinyl's popularity is constantly rising. The Wall Street Journal is reporting that Lippman bought the company at auction for about $1.5 million. He is hoping to tap into the vinyl craze and added, 'For a category that is meaningful and growing rapidly, you don't see a whole lot of choice." Read more - here.

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