Richard Branson has sold the assets of V2 North America, the label he founded after selling Virgin to EMI, to Sheridan Square Entertainment to create a relationship that keeps the V2 imprint in business.
Sheridan Square, which is led by Artemis Records, has formed a global partnership with V2 Group, which will be the international licensee for releases from V2 North America and Sheridan Square.
The V2 roster includes White Stripes, Dogs Die in Hot Cars and Moby and will soon release a soundtrack to “The Aristocrats,” a solo disc from Ray Davies of the Kinks and Josh Ritter.
Sheridan Square labels include Artemis, Vanguard Classics, Triloka, Rope-a-Dope and Tone-Cool. Among its artists are Steve Earle, Better Than Ezra and the late Warren Zevon.
“The ability to tap into V2 Group’s global repertoire and infrastructure will enable Sheridan Square to build scale internationally, yet focus on its core strategy of rights acquisitions in North America,” said Anil Narang, co-CEO of Sheridan Square.
The V2 Group will concentrate on the core markets of the U.K. and Europe, according to Branson. It also hopes to expand its presence in the Latin market through the Fania label.