Many of you saw this coming, but now it’s offical–V2 Records as a label distributing new music is NO MORE (link from BV). Artists on its roster like Moby and The Raconteurs will no longer be able to release new music on the label. It is believed that 35 people have been let go from V2 Records in the “repositioning” of the label.
The label will now focus on distributing their catalogue material (which includes The White Stripes first 5 albums), digital distribution, and the only “frontline” material they will issue will be GOSPEL. So unless Jack White plans on making a Jesus record, you will not be seeing another one of his albums with a V2 label on it.
According to Pitchfork:
In the case of the Stripes and the Raconteurs, though, things are slightly different. According to their publicist, the band’s contract with V2 has already expired; Meg and Jack are presently in negotiations with other labels, seeking a distributor for their own imprint, Third Man Records, for future releases.