![]() ![]() “This is not positive news for the indie labels and artists affected by this deal. Within a few hours of the acquisition being announced, Merlin CEO Charles Caldas issued a statement criticising its potential impact, however. Their addition greatly enhances our local representation in two of Europe’s key digital entertainment markets,” said The Orchard’s CEO Brad Navin, CEO of The Orchard, adding that he sees “an exciting opportunity to provide even greater levels of service and global reach to our local clients”. “We’re honored to welcome finetunes and Phonofile to The Orchard family. “Today is a big day for our Finetunes family. We feel confident that our labels will be best positioned for a healthy and prosperous future alongside The Orchard, who is dedicated to serving independents on a global level,” said Finetunes founder Oke Göttlich. Now they will become wholly-owned subsidiaries of The Orchard – itself owned by major label Sony Music.Īll three companies say the deal will be good news for their artist clients: in Finetunes and Phonofile’s case, because it will boost the global distribution clout for their music, while for The Orchard’s it will fulfil a similar purpose in Europe. The latter two companies had merged in January 2016 under a holding company called SendR, although they had continued to operate as independent businesses. Tags: Acquisitions distributors Finetunes Phonofile Sony Music The Orchardĭigital distributor The Orchard has acquired two of its rivals: European firm Finetunes and Nordic company Phonofile, in the latest bout of consolidation in the music-distribution space.
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