SS will continue to use V2 brand name.

V2 confirms that Sheridan Square Entertainment has officially acquired the assets of V2 North America. The deal was first reported here (Billboard Oct. 22).

As reported here (Billboard.biz Nov. 15) Sheridan Square will use the V2 brand name and V2 North America will continue to serve as the U.S. and Canadian licensor for the V2 Group’s global roster.

The Sheridan Square and V2 North America staffs will likely be rationalized to obtain cost savings, although senior management like V2 North America CEO Andy Gershon and Artemis president Danial Glass are expected to stay on. Both will report directly to Anil Narang and Joe Bianco, co-CEOs of Sheridan Square.

Terms of the deal were not disclosed immediately, but Billboard estimates that Sheridan Square is paying about $15 million for the V2 assets.