Sanctuary Records is a record label based in the United Kingdom and a subsidiary of Universal Records.[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 1976 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 who have had a long career and steady fanbase. Unfortunately, the
label has recently gained a reputation for destroying the careers of various artists, both 'heritage acts' & emerging
talent.[citation needed] Artists particularly scathing
of the way the label has been run have included Ocean Colour Scene, Thea Gilmore & Idlewild.
Iron Maiden's back catalog was re-issued by Sanctuary in conjunction
with Columbia 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's 2003 release "Back To The Well" was released by Sanctuary in the UK.
Mayan Records is an imprint of Sanctuary Records, which Lordi's
UK album The Monster Show was released under.
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 26 May 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.
Sanctuary and Mathew Knowles
Mathew Knowles, father of Beyoncé 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 D12's Bizarre, 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, whilst in July of that year Sanctuary came to the agreement that it would sell the MW Entertainment Productions and
Management (MWE) talent agency back to Mr. Knowles for £2.7m.
MAMA
Also in July 2006 it was reported that MAMA, the management group behind the Kaiser
Chiefs and Franz Ferdinand helded by former Mean Fiddler chief Dean James, would bid for the group. This proved unsuccessful.
Buyout
On June 15, 2007 Universal
Records announced it had reached an agreement to buy Sanctuary Records for £44.5 million.[4]
Artists
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]
See also
External links
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