Ministry Of Sound, apparently the UK's largest independent record company (though EMI like to say they're an independent record company, of course), has acquired the Enterprise Records bit of the Guardian Media Group, which brings with it both OneTwo Records and the Hed Kandi record label.
Announcing the takeover, Ministry Of Sound Recordings boss Loham Presencer told reporters: "We are very excited at the prospect of bringing our two businesses together. Hed Kandi is a brilliant brand with great integrity, built very skillfully by the team over many years. We look forward to preserving Hed Kandi's core values while helping to build the business still further."
John Myers, CEO of GMG's radio business, which owned the Enterprise Records operation, added: "Hed Kandi is a great brand but it is clear to us that it needs to be part of a much larger and experienced record business and this sale will now allow our team to focus on the development of our radio portfolio which is expected to see significant development over the coming months."