VMIX-an interesting new one, had news after the bell on Friday.
Friday May 28, 06:01 PM Eastern time
Company Press Release
Distribution North America Announces Exclusive U.S. Distribution Agreement with Matador Records
WOODLAND, Calif.--(BUSINESS WIRE)--May 28, 1999--Distribution North America (DNA), a division of Valley Media, Inc. (Nasdaq:VMIX), announced today an exclusive U.S. distribution agreement with Matador Records.
Matador had formerly been distributed via EMI Music Distribution for its co-releases with Capitol Records, and via ADA, Caroline, Revolver, as well as by the audio wholesale division of Valley for its independent releases. Matador will continue selling directly to tastemaker independent stores across the country. Matador ended its joint venture with Capitol Records on April 1, departing with 100 of the company and all masters and artists except for Liz Phair.
At Matador's offices in New York, co-president Chris Lombardi said, "Matador is truly excited to be back in the indie fold once again. DNA's experienced and committed staff will help Matador to grow in these challenging times for music companies. An established independent record label working with an accomplished indie distributor, coupled with Valley Media's connections to online retail, will allow Matador to navigate successfully through the uncharted waters of music distribution into the new millennium."
From Matador's London offices, co-president Gerard Cosloy commented, "Historically, Matador's most profitable releases have gone through independent distribution. We're looking forward to continuing that tradition with an intelligent new partner." He added, "The best thing about being independent again is that I still have all my old clothes from the last time."
DNA General Manager Jim Colson adds, "The Matador deal is important to DNA and Valley Media because it contributes to our process of gaining additional critical mass in the musical genres in which Matador excels. We also look forward to working with Matador in developing new artists and in their new areas of focus, such as hip hop. Matador has a first rate, professional staff, and their past successes are reflective of that high level of quality."
1998 was Matador's most exciting year to date, featuring breakthrough successes by newer signings such as Cornelius, Cat Power, Boards of Canada and Belle and Sebastian as well as records from established acts such as The Jon Spencer Blues Explosion. The past six months have seen releases from electronic artists Pole, Jega and burger/ink, as well as the label's first hip hop signing, the Arsonists. In September 1999, Matador will celebrate its tenth anniversary, with showcases in New York and London and a CD box set celebrating the label's history and diversity.
Distribution North America is a division of Valley Media, Inc., a recognized leader in full-line entertainment wholesale distribution, Internet retail fulfillment, independent music distribution and proprietary database products and publications. Valley Media operates facilities in seven states with primary distribution centers in Louisville, KY, and its Woodland, CA, corporate headquarters. Information about Valley Media is available on the web at www.valley-media.com. |
