GENESIS SINGER CREATES DEAL WITH TESCO

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ref="http://www.cityam.com/company/tesco">TESCO yesterday snapped up We7, the London-based digital music business, for £10.8m. Former Genesis frontman Peter Gabriel, who co-founded the company alongside Steve Purdham in 2007, is set to pocket £2m from the deal. The business has yet to make a profit, but Purdham said earlier this year the milestone is not far away.