Record companies in East or West locations? (6)
I believe the answer is:
indies
I believe this clue is a double definition.
'record companies' is the first definition.
(as in indie record labels)
'east or west locations?' is the second definition.
(as in the East Indies or West Indies)
'in' acts as a link.
(Other definitions for indies that I've seen before include "They can be East or West" , "SE Asia from India eastwards" , "small film companies" .)