White Stripes, Raconteurs now free agents as label shuts down

The White Stripes and frontman Jack White's other band, the Raconteurs, are now free agents as a result of the closing of their record label, V2 Records. According to Billboard.com, V2's parent company, Sheridan Square, has shut down the V2 label and will focus solely on catalog sales, with the exception of new gospel music. While the company will continue to distribute the Stripes back catalog, that band and the Raconteurs are now free to release new albums elsewhere.

The entire V2 staff was let go on Friday (January 12th), including president Andy Gershon.

V2 was initially started by multi-millionaire entrepreneur Richard Branson as a follow-up to his Virgin Records label.

The White Stripes and Moby have been two of the label's success stories, although other hits have been few and far between.

The last White Stripes album, Get Behind Me Satan, came out in 2005. The Raconteurs released their debut, Broken Boy Soldiers, last spring.
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