Pitchfork

"The last thing the music industry needs is another label," begins the SeeThru Broadcasting label description on their official website. Apparently so. In this currently fragile world economy, things are looking bleak for corporate-funded independent labels. Last week, the Beastie Boys' Grand Royal imprint was forced to shut down due to "mounting debts [and] decreasing assets." And yesterday morning, Pitchfork received word that SeeThru Broadcasting, the label run by producer and ex-Barkmarket frontman Dave Sardy, lost their funding from Belgium-based PIAS Records.

n Without this funding, SeeThru has no other option than to shut down later this month. This means that the seven bands on SeeThru's roster, which included Enon, the Starlight Mints, and the Radar Bros., are searching for new labels to call home. This will also likely delay the projected fall release of Enon's sophomore album.

n PIAS also axed funding for their PIAS America label, who issued the domestic pressing of Sigur Rós' \xC1gætis Byrjun. This will once again send \xC1gætis Byrjun into import-only bins until it can be reissued by Sigur Rós' new label, MCA. Also now in limbo is the September 25th release of the Reindeer Section's Y'all Get Scared Now, Ya Hear!. Reindeer Section is the Scottish supergroup fronted by Snow Patrol's Gary Lightbody, which features Willie Campbell, Charlie Clark, Gareth Russell and Michael Bannister of Astrid, Richard Colburn and Mick Cooke of Belle & Sebastian, Gill Mills and Andrew Meehan of Hercules, Arab Strap's Aidan Moffat, the Mull Historical Society's Colin Macintyre, Mogwai's John Cummings, Bob Kildea of V-Twin, and Eva's Jenny Reave.