NEW YORK, Jan. 16 (UPI) -- V2 North America, a subsidiary of New York-based Sheridan Square Entertainment, will become primarily a catalog label, company officials said.
The company, focusing on growing its digital business, said it would will retain the White Stripes catalog, but will no longer release new music by marquee artists such as Moby, the White Stripes or The Raconteurs, Radio Industry News said. The only genre the company said it would focus on is gospel.
Advertisement
V2 North America recently laid off its staff as part of a restructuring move.
V2 was founded by British entrepreneur Richard Branson in 1996. V2 North America was sold to Sheridan Square for about $15 million in February 2006.
