Elektra Records

From Academic Kids

Elektra Records was a record label started in 1950 by Jac Holzman and Paul Rickholt, who both invested $300. It was acquired by Kinney National Company in 1970, along with Holzman's Nonesuch Records, for $10 million. Soon afterwards Kinney consolidated their label holdings under the Warner Communications umbrella. Holzman remained in charge until 1972, when Asylum Records and Elektra were combined and Asylum's director (David Geffen) was put in charge. Holzman went on to start Discovery Records.

Elektra continued as part of Warner Music Group for another thirty years. In February 2004 Warner Music Group was sold by AOL Time Warner to a group of private investors made up of Thomas Lee Partners, Bain & Company and Edgar Bronfman Jr (who assumed CEO duties). By April, the new owners of WMG closed the doors at Elektra, laying off much of the staff. Many artists were dropped outright, while some continued their deals with other labels under the WMG umbrella (Warner Brothers Records and Atlantic Records). Elektra was absorbed into Atlantic.

A full history of Elektra's "Holzman years" can be found in Jac Holzman's book "Follow the Music: The Life and High Times of Elektra Records in the Great Years of American Pop Culture".

Artists

See also

External link

nl:Elektra (label)

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