BigChampagne's Ultimate Chart (a/o February 10th):
1. “What Doesn't Kill You (Stronger),” Kelly Clarkson
2. “Set Fire to the Rain,” Adele
3. “Turn Me On,” David Guetta
4. “Rack City,” TYGA
5. “Good Feeling,” Flo Rida
6. “Smooth Criminal (Glee Cast Version),” Glee Cast
7. “Young, Wild & Free,” Snoop Dogg & Wiz Khalifa
8. “Domino ,” Jessie J
9. “Sexy and I Know It,” LMFAO
10. “Ass Back Home ,” Gym Class Heroes
Dimensional Associates is now the sole owner of the Orchard (ORCD), according to details confirmed Thursday evening to Digital Music News. The consolidation effort has been underway for months, though some pushback and procedural details emerged. Orchard shareholders approved the proposal during an afternoon meeting in New York. Dimensional is the private equity arm of JDS Capital Management.
Under the terms of the merger agreement, The Orchard's outstanding stockholders received $2.05-per-share, in cash. This does not include interest or any applicable withholding taxes. The Orchard's common stock has now been delisted from the Nasdaq Exchange.
Not everyone was thrilled with the lowly per-share price, though a rebound seemed unlikely. And, moving forward, Dimensional will save considerable overhead related to its public listing. That includes rigid disclosure requirements as mandated by the SEC, a loss for those attempting to get a better peek into the financial health of the sector. "The company will remain focused on enhancing its delivery platform, expanding its digital business, and building products to make our clients more efficient marketers," Orchard CEO Brad Navin relayed.
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