Report: Best Buy to stop selling CDs

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If you still buy music on CD, your might soon have trouble finding it.

According to Billboard, Best Buy will stop selling CDs on July 1st.

CD sales fell by more than 18% in the past year.

Billboard reported that Best Buy was once the leading music merchandiser in the U.S. buy now sells only about $40 million in CDs per year.

Best Buy will keep a commitment to vendors and continue to carry vinyl for the next two years, Billboard reported.

Target, meanwhile, is asking music suppliers for a new payment arrangement.

Target currently takes the inventory risk by agreeing to pay for any music it is shipped within 60 days, and must pay to ship back unsold CDs for credit, Billboard reported.

Target wants the record labels to take the risk by switching to a scan-based trading terms. That means the record labels would only be paid for CDs that are actually purchased.