V2 North America Added To Sheridan Square’s Label Portfolio
In a long rumored move Sheridan Square Entertainment has acquired Richard Branson’s V2 North America, according to the Hollywood Reporter. "…Sheridan Square has undertaken an aggressive campaign of acquiring independent music assets over the last two years," state the Hollywood Reporter. The company also owns Artemis Records, Artemis Classics, Vanguard Classics, Triloka Records, Tone-Cool Records, Ropeadope Records and Compendia Music Group…Sheridan Square also operates Musicrama, a New York-based indie distributor that is fulfilled by Koch Entertainment Distribution. V2’s North American roster includes the White Stripes, Moby,and Ray Davies.
Some of these assets were rumored to be bought at undervalued fire sale prices, but it’s hard to imagine that was the case with V2 even thought the label has underperformed of late. In an era where content and catalog can be re-monetized with new methods of distribution or re-imagined as new products like ringtones, it will be interesting to see if Sheridan Square has made a smart long term investment.