Sanctuary Records:
Sanctuary Records is a record label based in the United Kingdom and a subsidiary of Universal Music Group.[1] Until June 2007, it was the largest independent record label in the UK and the largest independent music management company in the world.[2] It was also the world's largest independent owners of music intellectual property rights, with over 150,000 songs.[3] The company was formed in 1979 by Rod Smallwood and Andy Taylor, who had first met as undergraduates at Trinity College, Cambridge, and later organized dance events for students together. In 1979, they discovered (in a London pub) and then managed Iron Maiden. They consequently named the record company after the band's song “Sanctuary.”
Sanctuary Records is noted for preferring to sign artists with long-term appeal, usually the artists are those considered heritage acts, being artists that have had a long career and steady fan base.
In 1994, the company diversified. Amongst the new media interests included a joing venture with screenwriter and producer, Raymond Thompson, which evolved into the Cloud9 Screen Entertainment Group.
Iron Maiden's back catalog was re-issued by Sanctuary in conjunction with Columbia/SME Records in the US in 2002.
Kenny Rogers's 1980s back catalog (originally released on RCA Records) was re-issued by Sanctuary's Castle Music label in conjunction with Kenny Rogers' Dreamcatcher Records in the UK. The albums were only available as imports in the US. Rogers' 2003 release "Back To The Well" was released by Sanctuary in the UK.
Mayan Records is an imprint of Sanctuary Records, under which Lordi's UK album The Monster Show was released.
After a £110m loss in 2005 pressure from the U.K. financial and business leaders led to Smallwood becoming merely a general manager of the company, Taylor becoming Chief Executive and former British Airways chief executive Bob Ayling being installed as the new Chairman. On May 26, 2006, Ayling dismissed Taylor from the company over severe problems and inaccuracies in previous years' accounting. Sanctuary Group PLC shares had already become drastically reduced in value after a restructuring designed to deal with the previous year's huge loss.
In late 2006, Smallwood left the company, taking with him Iron Maiden's management interests.
In April 2007 Billboard Magazine reported that Sanctuary Records would cease to exist as a new release label in the US that summer, though catalog, licensing, and new media operations would continue. On October 22, 2007, the record company was absorbed by Universal Music Group.
By December 2007, it appeared that the Sanctuary name had begun to be airbrushed away, with both Morrissey and Robert Plant being transferred to the Universal-owned Decca Music Group for future releases.
[edit] Sanctuary and Mathew Knowles
Mathew Knowles, father of Beyoncé Knowles and manager of Destiny's Child, joined the label as an executive in 2003, when Sanctuary purchased his urban music company in America. However, this move proved disastrous when records by such acts as Bizarre of D12, Ray J and De La Soul were delayed, and the main company headed towards collapse.
After restructuring the main company in 2006, it was decided no more records would be released by this American Urban division, while in July of that year Sanctuary came to the agreement that it would sell the MWE talent agency back to Mr. Knowles for £2.7m.
In July 2006, it was reported that MAMA, the management group behind the Kaiser Chiefs and Franz Ferdinand held by former Mean Fiddler chief Dean James, would bid for the group. This proved unsuccessful.
[edit] Buyout
On June 15, 2007 Universal Music Group announced it had reached an agreement to buy Sanctuary Records for £44.5 million.[4]
[edit] Artists
[edit] References
- ^ "Universal Music to buy Sanctuary", accessed June 16, 2007, [1]
- ^ "Sanctuary may sell off some units," accessed June 16, 2007, [2]
- ^ "Help - Sanctuary Records Group", accessed March 28, 2007 [3]
- ^ "Universal agrees to buy struggling Sanctuary," accessed June 16, 2007, [4]
[edit] See also
[edit] External links
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