Tuesday, January 16, 2007

Flicking the V2s: White Stripes, Moby dropped

Tough times ahead for the American branch of the V2 label, which is restructuring itself into a back catalogue label after being sold to Sheridan Square Entertainment back in 2005.

Most of the staff - including the president - have been told to leave, while bands signed to the imprint have been told that while V2 will retain rights to their old work, they're no longer contracted to the label. That means The White Stripes, The Raconteurs, Nouvelle Vauge and Moby are now, in effect, dropped in the US.

The fate of the European wing of the company isn't clear at the moment, but it would seem odd for a label to be pushing new music in the UK while hawking back catalogue overseas.