(Reuters) - Under the terms, Digital Music would issue about 9.1 million common shares and around 4.5 million shares of convertible preferred stock to Orchard's shareholders, who would own 60 percent of the combined company.
Orchard's president and chief executive, Greg Scholl, would lead the combined company, while Digital Music CEO Mitchell Koulouris would leave to pursue other interests.
Read more at Reuters.com Mergers News
Orchard's president and chief executive, Greg Scholl, would lead the combined company, while Digital Music CEO Mitchell Koulouris would leave to pursue other interests.
Read more at Reuters.com Mergers News
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