The Orchard Merges With Digital Music Group
November 14, 2007 at 3:35 PM (PT)
In a merger of digital music and video services, THE ORCHARD has absorbed the DIGITAL MUSIC GROUP. The all-stock transaction will give shareholders of THE ORCHARD will own about 60% of the combined company, which will be led by ORCHARD Pres./CEO GREG SCHOLL.
The pact gives THE ORCHARD a catalog of over one million recordings and thousands of hours of TV, film and video. Its partners' songs and video content are distributed to digital retailers like iTUNES, eMUSIC and RHAPSODY.