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Virgin Music Group has announced that it will be shifting its physical distribution business over to AMPED, a subsidiary of Alliance Entertainment. The move is seen as a significant one in the music industry, with several of Virgin’s indie labels welcoming the news.
As part of Universal Music Group (UMG), Virgin currently distributes numerous independent labels and artists, including BMG, ATO, Dirty Hit Records, Sumerian, Fader, Strange Music, NF Real Music, Thrive, Smashing Pumpkins, Black Veil Brides, Body Count, Rick Astley, Bebe Rexha, and Jason Aldean.
Industry experts are already speculating that the deal may have a profound impact on the market. According to reports, the transaction is not yet complete, but sources suggest it could be finalized in the coming days or weeks.
Source: www.billboard.com
