Olsen to remain Compendia prez.
As expected, Sheridan Square Entertainment has acquired the music assets of the Compendia Music Group from Dominion Resources, the financial firm that has owned the Nashville-based label since it emerged from Chapter 11 protection in 2000.
"This acquisition represents an important next step in the development of Compendia,” president Michael Olsen says in a statement. “By combining our resources and talent with Sheridan Square’s, the company will have a much greater opportunity to go to the next level."
Compendia Music Group will continue to be headquartered in Nashville and run by Olsen. Sheridan Square, a unit of Redux Records, also owns Artemis and Musicrama.
Compendia's catalog includes material by the Beach Boys, Robert Palmer, Joan Osborne, the Tony Rich Project, the Oak Ridge Boys, Dionne Warwick, Pete Townshend, the Bellamy Brothers, Phoebe Snow, Andrae Crouch, George Clinton and many others.
“Compendia’s strong leadership, outstanding catalog and unwavering commitment to producing high-caliber new music resonate well with Sheridan Square’s vision for the future," Sheridan Square CEO Joe Bianco says in a statement.