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Tuesday, March 6, 2012

The Orchard-IODA Pairing

MORE DIGITAL DEVELOPMENTS: Coming on the heels of INgrooves’ acquisition of Fontana, digital aggregators The Orchard and Independent Online Distribution Alliance (IODA) have announced plans to merge, with Sony Music Entertainment a strategic investor in the combined company. Sony, which already owns 51% of IODA, will acquire the remainder, then complete the deal with The Orchard, owning at least 50% of the merged entity. Last week, Shamrock Capital acquired Fontana from UMG, then merged it with INgrooves, leaving UMG with between 15-20% ownership in the company. (3/6a)

 
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