eMusic Parent Makes Bid for The Orchard

Authored by Mark Hefflinger on November 3, 2009 - 7:36am.

New York - Dimensional Associates, the private equity unit of JDS Capital that owns digital music service eMusic, is in talks to acquire all of the shares of digital music and video distributor The Orchard (NASD: ORCD) it does not already own, PaidContent reported, citing an SEC filing.

Dimensional, which was The Orchard's previous owner -- before its 2007 merger with Digital Music Group Inc. (DMGI) -- is still the company's majority shareholder.

The eMusic parent is now offering $1.84 per share for all the outstanding shares of The Orchard it doesn't own.

New York-based The Orchard saw CEO and president Greg Scholl step down in September.

The company now says that interim CEO Daniel Stein -- also CEO of Dimensional Associates -- has stepped down, replaced by executive vice president and general manager Brad Navin.

Related Links:
http://snipurl.com/t1kj3 (PaidContent)

http://www.emusic.com

http://www.theorchard.com

http://www.dfauk.com