We've been hearing rumors about this for a while, but it looks like it might actually be true now. Sanctuary, the British independent music company will do a major cutback by summertime. The majority of the US label operations will wind down. This is sad news as the label is home to some of our favorite acts such as Morrissey, Idlewild and Teagan and Sara.
According to Billboard, the group will continue to run its catalog, licensing and new media departments as well work on current records such as Dolores O'Riordan's solo release, Are You Listening, which hits May 15. The source that spoke to Billboard commented, "It is important to do the right things for albums like those...but then everyone who deals with front-line will be leaving at various times over the new few months," including marketing, publicity and most sales personnel."
UPDATE: Our sources just told us that "Promotion and Sales Departments are out June 30th, Marketing and Publicity stay through September. Catalogue, Digital, and Licensing stay."