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Quote of the day: The 'nimbleness' of indie record making

Though the Cordless all-digital music label will be operated by a major, it's infused with the spirit of independents.

Jac Holzman's, who today launched Cordless--the first all-digital music label operated by a major record company--said he's trying to infuse the new venture with the spirit of the independent labels he created and managed for 30 years. For example, artists get to keep ownership of the master recordings they release under Cordless. If they want to release their music elsewhere after a short contract is up, more power to them.

"Independent record making is a process and a point of view and a flexibility," Holzman said, noting that he and his partners have already agreed to sign bands just hours after hearing them. "There's a nimbleness that larger companies, where decision mechanisms have become cumbersome, have lost." Click here for full story.