According to indie web-publication Pitchfork, due to the tumult of our current economic situation, Touch and Go Records, the label that brought the world Shellac, Polvo, Blonde Redhead, Pinback, Naked Raygun, the Jesus Lizard, TV on the Radio, and Slint has announced that they will no longer be releasing new music. It, however appears that Pitchfork may have made this up.
The official news from Touch and Go is that they will no longer be manufacturing and distributing records for other labels. This is still a big deal in the indie music industry. For a long time Touch and Go has been the go-to distributer for fairly priced and honest distribution of independent music. Touch and Go did manufacturing and distribution for over 20 prominent indie labels, including Chapel Hill based Merge records. The implications of this are pretty dire for independent music. Merge, Thrill Jockey, Kill Rock Stars and about 20 other labels are going to have to find an alternative means of manufacturing and distribution, possibly effecting thier costs and quality. In this already bad economic climate this is a pretty serious hit to independent music.