Time Life Owner Buys Bankrupt Cash4Gold

The company behind Time Life music and DVDs hopes to revive Cash4Gold, the gold-buying site once famed for its ubiquitous commercials.

Fairfax, Va.-based Direct Holdings Ltd., which owns the Time Life license and also sells a line of health, beauty and kitchen products, bought Cash4Gold in an auction after it went bankrupt in a Florida proceeding. The purchase was completed Nov. 12.

Direct Holdings president Christopher Hearing tells JCK he sees similarities in his business and Cash4Gold’s, because both market heavily on TV and on the Internet.

“We see it as an opportunity to take a brand that was well-established, but clearly tarnished in the consumer mind, and restore some of that luster to it,” he says.

Hearing says the company will hold back on marketing for the time being.

“We have to start with the customer service piece of it,” he says. “That’s one place they lost their way and we have to fix that piece of it before we start on any marketing efforts.”

Hearing says it is too early to speculate on plans for the new business.

“We are in the throes of taking it over,” he says. “We haven’t been able to get in and lift the hood yet.”