By: Spacelab Research Staff Sheridan Square Entertainment, owner of V2 Records, has shaken up the label with the termination of the V2 staff, including president Andy Gershon. The label intends to go Netflix by becoming a catalog business. They could basically operate out of a warehouse if they wanted too.
V2 plays home to artists like White Stripes, the Raconteurs, Moby, Margot & the Nuclear So and So's, the Blood Brothers, and Gang of Four, among many others.
Instead, Sheridan Square and/or V2 will focus on gospel music. I guess it's got a big future.
An article in Billboard said "Sheridan Square has basically shuttered its frontline V2 record business as part of restructuring to focus on its catalog releases and the future opportunities presented by digital distribution."
Details are sketchy right now with no official statement from from anyone, only credible reports with unnamed sources in both Billboard and Reuters.