Chicago-based rock label Victory Records has renewed its contract with New York-based RED Distribution, sources tell Billboard.biz. Victory had fielded offers from nearly every major distributor, maki

Chicago-based rock label Victory Records has renewed its contract with New York-based RED Distribution, sources tell Billboard.biz. Victory -- one of the hottest labels in independent music -- had fielded offers from nearly every major distributor, making the subject one of much industry rumor and speculation for months.

Victory's deal with RED was due to expire at the end of July. Victory founder Tony Brummel and a RED spokesperson declined to comment.

Last week, Victory signed a Canadian distribution deal with Universal Music Canada. The deal takes effect July 1, and ends a seven-year relationship with Koch Entertainment Canada.

Victory, which had success last year with Taking Back Sunday and Atreyu, has continued to place multiple artists at the top of Billboard's Top Independent Albums chart well into 2005. The label had five artists on the chart dated April 16, led by Hawthorne Heights at No. 11.