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Endpoint: Elektra (Music Label)



created on: 10/12/2016
by: Lo55o (12462)
 
 

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General info :
Elektra is a label name used by Elektra Records, an American record label owned by Warner Music Group, founded in 1950 by Jac Holzman and Paul Rickolt.
It played an important role in the development of contemporary folk music and rock music between the 1950s and 1970s. In 2004, it was consolidated into WMG's Atlantic Records Group. After five years of dormancy, the label was revived as an imprint of Atlantic in 2009. As of 2016 the label is run by Gregg Nadel.

In 1964, Elektra launched Nonesuch Records. This classical budget label was the best-selling budget classical label of the era.

Elektra, along with its Nonesuch Records subsidiary, was acquired by Kinney National Services in 1970, which change its name to Warner Communications in 1972.
Soon afterwards, Kinney consolidated their label holdings under the Warner-Elektra-Atlantic umbrella.
Holzman remained in charge of Elektra until 1972, when it merged with Asylum Records to become Elektra/Asylum Records; Asylum's founder, David Geffen, would head the newly combined label.

Although the company was technically listed as "Elektra/Asylum Records" on the label credits, as the years went on the company began to unofficially call itself Elektra Records again (with Asylum operating as a subsidiary label).
In 1982, Elektra launched a jazz subsidiary called Elektra/Musician. The following year, Bob Krasnow became president and CEO of Elektra; under his leadership, the label would reach its commercial peak throughout the rest of the 1980s and early to mid-1990s.

In 1989, the company officially changed its name to Elektra Entertainment.
During this time, Elektra developed a relationship with the UK-based label 4AD, becoming the North American label for 4AD acts such as the Pixies, the Breeders, Frank Black and The Amps.

In 1994 the label was renamed Elektra Entertainment Group.

Despite having a large stable of noted acts, as the 1990s drew to a close, Elektra began to see a slump in revenue, while noticeably underperforming on the charts.

In February 2004, Warner Music Group was sold by Time Warner to a group of private investors made up of Thomas Lee Partners, Bain & Company, and Edgar Bronfman Jr.. and the new owners decided to merge Elektra and Atlantic Records.
Because Elektra was the lesser performing label of the two, 40% of Elektra's operations were put into the new venture, while a commanding 60% of Atlantic's went in. Subsequently, the new company was called "Atlantic Records Group" with Elektra breaking off into a subsidiary which became dormant until the label was revived in 2009.

Atlantic Records Group announced the revival of Elektra Records as an independent entity within Warner Music on June 1, 2009.
Source :
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Music

(3 items)

Item number : 14172

Submitted by : Lo55o (12462)
on : 10/12/2016
Refined by : Lo55o (12462)
Last updated on: 11/12/2016