Sony Completes $200 Million Purchase Of [Formerly] Indie Distributor The Orchard
A new SEC filing has reveled that Sony has agreed to purchase the remaining stake in music and video distributor The Orchard for $200 million. Sony has owned a controlling interest in The Orchard since 2012, but the company has continued to operate independently. In addition to The Orchard, Sony also owns music distributor RED.
Expect smaller distributors like OneRPM and Ditto to aggressively approach indie labels with a "100% independent" pitch.