Equity Music, the label co-founded by Clint Black, suspended operations on Tuesday (Dec. 16). In addition to Black, the label's roster also includes Laura Bryna, Carolina Rain, Kevin Fowler and new artist Blake Wise. "Our investors tried to find a way to keep the doors open at Equity, but with a struggling industry, an overall decline in discretionary spending by consumers and a total freeze on credit markets, the Board of Directors has been forced to make this difficult decision. ... We want to wish our wonderful staff and artists all the best in all their future endeavors," said label president Tim Wipperman, who will remain with the company. Little Big Town had recorded two albums for Equity, but the band is now signed to Capitol Nashville.