Midas Records undertakes a "restructuring."
Midas Records, arguably one of the more successful independent labels on the Nashville scene has elected to moth ball their entire promotions team and outsource the work to others for the time being. No reasons were given except to say that this was part of a "corporate restructuring." Even their Promotions Coordinator who works in house will be leaving at the end of the week of August 3rd.
At present, the label itself is still a viable concern with a strong artist roster. In particular is brand new male vocalist from Canada, Adam Gregory whose single "Crazy Days" is working its way up the charts, already in the top 40. The work of promotions for Adam will be handled by Big Machine by arrangement for the time being. As for distribution, Sony RED is handling all of that, and Midas is claiming that they are still in business, though its hard to see how.
Also on the Midas label is the new artist sensation from last year, Emerson Drive. Their last single, "You Still Own Me" is the last single on radio for the breakout Canadian group, and hasn't been a current play since late 2007. In mid 2007, Emerson Drive hit country gold with their song "Moments" went to #1 and the group was nominated as one of the ACM new groups of the year. All of this is very impressive, and yet it's not enough to keep Midas from undertaking what they are calling a "restructuring." More news as it develops.