As predicted yesterday, digital distributors The Orchard and IODA have announced plans to merge. The new company will be called The Orchard, with the company’s current CEO Brad Navin retaining that position for the new entity. IODA CEO Kevin Arnold will take an “advisory role” to the board of directors, while also working on special projects for shareholder Sony Music. “This deal opens doors for everyone by creating the preeminent platform for distribution, sales and marketing,” says Navin in a statement. Arnold adds that “By joining forces, independents around the world will benefit from the global reach and robust technology of the newly combined company”. The merger is expected to be completed by the end of June.
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