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What with Chrysalis scaling down Echo, to just be a joint-ventre operation, and Richard Branson selling V" (all but 5%), where does that leave the future of the mini-major?
My prediction - V2 will be part of Universal Music very shortly!! (Morgan Stanley will want an exit, and one is already illuminated!)
In my opion the era of mini-majors ended around 1990 with the sale of Motown, Geffen, A&M, Island, Chrysalis and Virgin - or maybe even earlier when Arista, UA Records, ABC Records, 20th Century Records where sold (1979).
In the 80s and 90s so called independents were mostly dependent (Distribution) on the majors, who also fianced and part-owned most (all!)of the commerically important labels