News Byte
Peter Kafka in Media on July 29, 2010 at 2:40 pm PT
The Orchard, which distributes digital music and video to the likes of Apple’s and Amazon’s online stores, is going off the public market. The New York-based company is being bought out by its parent, private equity shop Dimensional Associates, and stops trading tomorrow. Shareholders will get $2.05 per share, and they’re apparently okay with that price, since that’s where ORCD has been trading for some time. This is a round trip for the company, which was originally wholly owned by Dimensional before a
reverse merger deal that brought it public in 2007. Dimensional also owns e-music, the indie music MP3/subscription service. The Orchard may be familiar to some of you as the company whose copyright infringement lawsuit
marked the end of iMeem.