Sony will be the 100% owner of music distribution company The Orchard after the end of this month.<\/p>\n
According to an SEC filing, Sony has entered into an agreement to acquire all the remaining shares in the business in a $200m (\u20ac136m) deal with current stakeholder Orchard Asset Holdings, LLC.<\/p>\n
Sony said it expects the acquisition to close after March 31 subject to regulatory approvals.<\/p>\n
The major merged The Orchard with IODA back in May 2012 when both were purely digital aggregators.<\/p>\n
Sony is believed to have owned more than 50% of the merged company, whose annual turnover is comfortably in excess of $100m.<\/p>\n
The Orchard, which was founded 18 years ago, has brought a number of independent labels in-house during its history.<\/p>\n
These include TVT Records, Frenchkiss Records, Discos Joey, JDub and Xanadu.<\/p>\n
This year, the company has acquired Blind Pig Records<\/a> and signed a strategic partnership with German services company Membram.<\/a><\/p>\n It will be fully-owned by Sony Music Entertainment – the parent company of its Japan and US-based companies covering Recorded Music, Music Publishing (its 50% stake in Sony\/ATV) and \u2018Visual Media and Platform\u2019 divisions.<\/p>\n","protected":false},"excerpt":{"rendered":" Major buys remaining shares in firm from Orchard Asset Holdings<\/p>\n","protected":false},"author":3,"featured_media":5399,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[109,415,227,779],"class_list":["post-5396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-digital","tag-distribution","tag-sony-music","tag-the-orchard"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/5396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/comments?post=5396"}],"version-history":[{"count":0,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/5396\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media\/5399"}],"wp:attachment":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media?parent=5396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/categories?post=5396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/tags?post=5396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}