Elektra Records

Elektra Records
Founded1950
FounderJac Holzman
Paul Rickolt
StatusActive
Distributing labelAtlantic Records Group
(US)
WEA
(Outside of the US)
Rhino Records (re-issues)
GenreVarious
Country of originUnited States
Official websiteelektra.com

Elektra Records (Elektra Entertainment Group Inc.) is an American record label. It is owned by Warner Music Group. Elektra Records was founded in 1950 by Jac Holzman and Paul Rickolt in Holzman's St. John's College dorm room. It was combined with WMG's Atlantic Records Group in 2004. After 5 years of being inactive, Atlantic Records Group announced that they were reviving the Elektra as an independent entity within Warner Music on June 1, 2009.[1]

In September 1994, Elektra Records was sued by heavy metal band Metallica so that they could terminate their contract with the label and gain ownership of their master recordings.[2] In January, Metallica and Elektra announced that they settled their suit, and even though a non-disclosure agreement had kept the terms secret, media sources claimed that "a significant increase in royalty payments to the band as well as a renegotiation of the group's recording contract were key factors in Metallica and Elektra coming to terms."[3]

References

  1. "Elektra Flies Again". Atlantic Records Group. Retrieved 2014-07-20.
  2. "Metallica Sues Label, Challenging '7-Year' Contract Statute". Los Angeles Times. Retrieved 2014-07-20.
  3. "Metallica Settles Lawsuit With Its Record Label". San Francisco Chronicle. Retrieved 2014-07-20.
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