The Hobbit actor established Simian Records in 2005, and told NME that his strong love of the band made him consider the idea.
"It was a fantasy of mine that I could release one of their records... [during] a very brief period of time where Radiohead were looking to release In Rainbows but they didn't have a label," Wood explained.
"In my heart of hearts I knew that was absolutely impossible, but you know, you know I'm a huge Radiohead fan."
Radiohead eventually adopted a 'pay-what-you-want' model for the initial digital release of In Rainbows in October 2007, and also produced a number of limited edition vinyl and CD boxsets.
The record then received a conventional CD release across the world during the last week of 2007.
Watch Radiohead performing 'Jigsaw Falling into Place' during a concert in Chile below: