Germany-based Finetunes and Norway’s Phonofile will become full subsidiaries of The Orchard, gaining access to the 25 territories it operates in.
Sony Music, who originally had a 50% share, acquired the full 100% of The Orchard back in early 2015 for €136m. The company was founded 20 years ago bringing independent labels in-house including TVT Records, Frenchkiss Records, Discos Joey, JDub and Xanadu.
According to Billboard, both Finetunes and Phonofile. merged under Sendr umbrella last year, a holding company predominantly owned by Göttlich and Thiess.