Sony Music acquires The Orchard
Sony Music Entertainment has approved the purchase of the remaining equity stake in the Orchard from Dimensional Associates for $200 million, according to Billboard.
Sony will acquire full ownership of the Orchard as a result of the equity purchase.
The acquisition gives Sony a stronger foothold in the independent distribution business, as it already owns RED, which is largely considered to be one of the biggest independent distributors in the United States.
The agreement to pay about $200 million for ...
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