In a joint release, the organizations argue the deal would "reduce competition and the independents' bargaining power" if allowed to go through.
Organizations including IMPALA, AIM and IMPF have come out in opposition to the blockbuster deal, arguing it will squeeze independents in an already concentrated market.
The company's publishing division, which includes Songtrust and Sheer, is expected to crank out $200 million in gross revenue in 2024.
Virgin buys the parent company of CD Baby, FUGA, Songtrust and more in a deal expected to close by mid-2025.
The late New Zealand beer baron was heir to one of Australasia's most successful brewing dynasties.
The company, which owns distributors CD Baby and FUGA as well as a slew of other music businesses, has held talks with several prospective buyers in recent months.
"Our royalty services team can take on those parts of the process [that] clients would like to outsource," says managing director Richard Leach
The executive, who was previously CEO at CD Baby, will serve as a consultant and advisor for the company through 2024.
The cuts hit the company's CD Baby, Downtown Publishing, Songtrust and DMH divisions with many affecting publishing-related roles.
The purchase of the royalty processing firm is the latest development in the company's efforts to become a service-focused operation.
