As Ken Dirtnap pointed out in yesterday's comments, the CMJ story was wrong about the death of Touch & Go. While they are planning on shutting down their distribution wing, downsizing and letting staff go, they will focus their efforts on just the label aspect of their business and continue to release albums.
Corey Rusk, founder of Touch & Go, explained in a press release yesterday, "Touch and Go will be returning to its roots and focusing solely on being an independent record label. We'll be busy for a few months working closely with the departing labels and scaling our company to an appropriate smaller size after their departure."
This will impact a few local labels like Kill Rock Stars and Suicide Squeeze, as well as local record stores in the short term that use them as a distributor. But in the long run, everyone is downsizing both because of the economy and the changeover from physical music to digital music, it's great to see labels rather than totally calling it quits, trying to adapt to the realities of today and still do what they do best.
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