15 May 2003 - 0 Comments

V2 Records announced on May 8 that it will join a new license partner in Australia and New Zealand effective immediately for new releases. Following a happy tenure with Zomba, V2 will join Festival Mushroom Records. The balance of the catalogue will be available at FMR from July 1, 2003.

Tony Harlow, CEO, V2 Worldwide commented: "We have been happy with our arrangement with Zomba which has seen us through a rebuilding period.

"Unfortunately, this option is no longer available to us and we were keen to find a company that could work all our releases with commitment. This pointed us towards FMR who have a gap for quality international product, an excellent recent track record with local music, and showed us a passion for the deal. We are delighted with the alliance, which is long term, and are convinced that we will build and develop V2 with Michael Parisi and his team.

"We had other interest from significant players and I acknowledge this, but this feels like the right fit. We would also like to thank both the Zomba team and BMG for their support in the past years, and particularly acknowledge the contribution of Paul Paoliello".

Michael Parisi, Managing Director, Festival Mushroom Records Australia adds:

"The V2 relationship is a perfect fit for FMR. In many ways, we are very similar companies. We both share a passion for A&R, for true artist development and for taking risks. With Tony Harlow at the helm and people of the calibre of Andy Gershon signing artists in the US we at FMR believe the
future is bright for V2 and we desperately wanted to be a part of it. I'm personally thrilled and excited to be working with them and with their classy roster"

V2 will commence its new relationship with new records from million-selling British act Stereophonics (who launch their new album "You Gotta Go There To Come Back"? mid June 2003), and American lo-fi superstars Grandaddy (released in June 2003 also). Also up early will be Jaimeson's "True"? single
featuring Angel Blu that recently debuted in the UK Top 5. These releaseswill head off V2's strongest release year to date. Also expected are albums from Elbow, Nitin Sawhney, The Burning Brides, and Liberty X amongst others, as well as development acts like Katy Rose and PreThing. "

Thanks to www.festivalrecords.com.au for this story.

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