Wednesday, June 09, 2010

Shock Publishing in liquidation

From Billboard: "Powerhouse Australian independent music group Shock has closed three of its companies, including its music publishing arm.

Citing the global financial crisis, prolonged tough trading conditions and ever-changing consumer behavior, the Melbourne-based firm has placed its Shock Music Publishing arm into voluntary liquidation, with effect from June 7. Shock Publishing GM Clive Hodson is among the staff let go.

Also, Shock's One Stop Entertainment and Shock units have been placed into voluntary administration, with effect from June 8.

In a statement, the multi-faceted music and entertainment company says, "It is business as usual for our core Shock Entertainment businesses, and we will continue in our endeavor to maintain and enhance Shock Entertainment's position as the leading independent label and distributor of music and home video in Australia and New Zealand."

Full story here

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