In April 2005, Cooperative Music was set up as by the V2 Music Group as a transnational marketing and distribution operation which licenses independent labels, as opposed to individual artist companies which is the standard industry practice, for release in Europe, Australia and Japan. This in-house licensing division has an exclusive international marketing team with representation in the UK, Ireland, France, Germany, Italy, Spain, Holland, Belgium, Sweden, Norway, Denmark, Australia and Japan.
In May 2006, much of V2's catalogue, including multiplatinum artists Moby and The White Stripes, was added to eMusic, making the label one of the most high-profile featured on the online music site, which mostly sells DRM-free independent music at a cost considerably lower than many of its competitors.
On 12 January, 2007, V2's United States and Canada branches announced that they were undergoing restructuring to focus on its back catalogue and digital distribution.[1] As a result, their employees were let go and their roster of artists left as free agents.
In August 2007, the company was sold for £7 million to Universal Music Group. Subsequently in October 2007, UMG partnered the US operations of its independent distribution arm Fontana Distribution, known as Fontana International, with London-based Cooperative Music of V2 Music. The intent was to enhance expansion through international agreements, and so independent labels from Europe under Coop would gain access to the independent American marketplace through Fontana International's diverse connections in independent marketing, promotion and distribution support.
