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Tuesday, March 06, 2012

Sony To Buy The Orchard & IODA, Which Are Merging

          The Orchard is merging with IODA and Sony Music is making a major investment in the new company, according to several reports. Sources tell Hypebot that talks began with The Orchard hoping to purchase IODA, which Sony owns a major stake in. Dimensional Associates, the private equity arm of JDS Capital Management and owners of The Orchard, had reportedly hoped to roll up several distributors including The Orchard, The Orchard and IRIS into a digital music powerhouse. But Sony had other plans. (HYPEBOT)

    Not sure what that means for the physical and digital distribution elements of IODA and The Orchard, but considering that IODA stands for, "Independent Online Distribution Alliance." It does not seem like a particularly positive development for independent music.  Then again, Ingrooves is straight up owned by Universal Music, so pick your poison I suppose. 

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