Cooking Vinyl Acquires Stake in Fat Cat Records: Report
Martin Goldschmidt, who co-founded Cooking Vinyl, has long had a distribution relationship with Fat Cat Records through another company he co-founded, Essential Music & Marketing. Terms of the deal, first reported by Music Business Worldwide, have not been disclosed. Sources in the industry who typically look at assets when they come up for sale say that, to their knowledge, this deal was not shopped around.
Goldschmidt and his partner have since sold Essential to Sony Music Entertainment and it is now known as Red Essential. But he still retains ownership of Cooking Vinyl, and now apparently has the stake in Fat Cat.
Fat Cat and Cooking Vinyl didn't respond to a request for comment.