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ELEKTRA RECORDS is 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. The label has been run since 2015 by Gregg Nadel, who officially became its president in 2017.

CONTENTS

* 1 History

* 1.1 Founding and early history * 1.2 1970s ( Asylum Records merger) * 1.3 1990s (Elektra Entertainment Group) * 1.4 2004 to current (Revival Asylum's founder, David Geffen , would head the newly combined label. Holzman, in the meantime, was appointed senior vice president and chief technologist for Warner — ushering the company into home video and the first interactive cable system. Holzman also went on to acquire Discovery Records . In 1975, Geffen stepped down due to health problems. He would be replaced by Joe Smith, who later went on to become CEO of Capitol Records
Capitol Records
.

Joe Smith, whose leadership resulted in the biggest market share and gross revenues Elektra Asylum was to have, inherited the A under his leadership, the label would reach its commercial peak throughout the rest of the 1980s and early to mid-1990s.

1990S (ELEKTRA ENTERTAINMENT GROUP)

In 1989, the company officially changed its name to ELEKTRA ENTERTAINMENT. During the Bob Krasnow era, the label became home to a wide range of artists such as Metallica
Metallica
, The Cars , Luna , Anita Baker , Stereolab
Stereolab
, Teddy Pendergrass and Third Eye Blind . Also 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 .

Like its sister labels, Elektra's fortunes began to wane in the mid-1990s, in part because of a series of bitter corporate battles between senior Warner label executives which seriously damaged the collective reputation of the group. Unhappy with major structural changes enacted by then Warner Music Group chairman Robert Morgado, Bob Krasnow abruptly resigned in July 1994, and others soon followed—the highly respected Warner Bros CEO Mo Ostin decided not to renew his contract and left in December 1994, and Ostin's friend and protégé Lenny Waronker left early the next year. Krasnow was replaced by Sylvia Rhone and during the year the label was renamed Elektra Entertainment Group.

In September 1994, another damaging controversy erupted when top heavy metal band Metallica
Metallica
filed suit against Elektra to terminate their contract and gain ownership of their master recordings. The group based its claim on a section of the California Labor Code that allows employees to be released from a personal services contract after seven years. By this time, Metallica
Metallica
had been with the label for more than a decade and had racked up sales of over 40 million records, but they were still operating under the terms of their original 1984 contract, which provided a relatively low 14% royalty rate. The group also claimed that they were taking the action because Robert Morgado had refused to honor a new deal they had worked out with Bob Krasnow shortly before he quit the label. Elektra responded by counter-suing the group, but in December New York magazine reported rumors that then Warner Music US chairman Doug Morris had offered the group a lucrative new deal in exchange for dropping the suit which was reported to be even more generous than the earlier Krasnow deal. In January, the group and Elektra jointly announced that they had settled the suit, and although a non-disclosure agreement 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
Metallica
and Elektra coming to terms."

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. It also developed a bit of a sullen reputation in the industry for not properly promoting many of its releases, thus earning the nickname "Neglektra" by many of its acts, and was easily lagging behind its sister labels Warner Bros. Records and Atlantic Records
Atlantic Records
.

2004 TO CURRENT (REVIVAL & ATLANTIC MERGER)

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. (who assumed CEO duties).

The new owners of WMG decided to merge Elektra and Atlantic Records. Because it 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 (though longtime time Elektra artists such as Tracy Chapman , Björk
Björk
, and Yolanda Adams continued to have releases on the label while newer signees such as Jason Mraz
Jason Mraz
and Jet were transferred to Atlantic).

Atlantic Records Group announced the revival of Elektra Records
Elektra Records
as an independent entity within Warner Music on June 1, 2009. The revived label is headed up by two new co-Presidents: Mike Caren , Exec. VP of A&R for Atlantic Records, and John Janick, founder and President of prominent indie label Fueled by Ramen . The revived label uses a modified version of the circa-1970s Elektra logo.

The first release of the new label was the original soundtrack of the HBO show True Blood
True Blood
, and the first album released was Charlotte Gainsbourg 's IRM . The label is now home to artists such as Uffie , Little Boots
Little Boots
, Justice , Bruno Mars
Bruno Mars
and Cee-Lo Green .

On October 4, 2012, Warner Music announced that Jeff Castelaz , the co-founder of Los Angeles
Los Angeles
-based independent label Dangerbird Records , had been named President of Elektra Records. Gregg Nadel from Atlantic Records
Atlantic Records
A&R became General Manager of the label in 2015. In September 2015 Castelaz stepped down from his role at Elektra, leaving Nadel to run the label.

In 2016, Elektra’s releases included the debut album by Icelandic Rock Band Kaleo , which included the #1 Modern Rock Hit “Way Down We Go ”, Fitz ">

* ^ A B C Leopold, Todd (20 April 2007). "Confessions of a record label owner". CNN. Retrieved 13 November 2016. * ^ A B Nadel, Gregg (18 January 2017). "Gregg Nadel Named President of Elektra Records". Billboard. Retrieved 7 April 2017. * ^ "Warner Music Struggles to Restore Its Luster". NPR.org. October 11, 2005. Retrieved March 9, 2015. * ^ A B Follow the Music p6 * ^ Ηλέκτρα in the original Greek. * ^ Nielsen Business Media, Inc (September 25, 1965). "Billboard". * ^ Nielsen Business Media, Inc (June 26, 1965). "Billboard". * ^ "Heavy Metal Band Sues Record Label", New York Times, 28 September 1994 * ^ Pat Wechsler & Roger D. Friedman, "Heavy Metal Gets the Heavy Bucks", Intelligencer section, New York magazine, December 19–26, 1994, p.26 * ^ SFGAte.com, 6 January 1995 * ^ Kirkpatrick, David D (25 November 2003). " Time Warner Sells Music Unit for $2.6 Billion". The New York Times. Retrieved 7 April 2017. * ^ " Warner Music Group & Atlantic Records
Atlantic Records
Relaunches Elektra Records Label Jun 3, 2009". Cliz Beats. 3 June 2009. Retrieved 7 April 2017. * ^ "Elektra Flies Again". Atlantic Records Group news release. June 1, 2009. Archived from the original on July 11, 2011. Retrieved June 3, 2009. * ^ Todd, Martens (October 4, 2009). "Dangerbird co-founder Jeff Castelaz to head Elektra Records". Los Angeles
Los Angeles
Times. Retrieved September 22, 2014. * ^ Schneider, Marc (3 February 2015). " Elektra Records
Elektra Records
Taps Gregg Nadel for GM Role". Billboard. Retrieved 13 November 2016. * ^ Aswad, Jem (14 September 2015). " Jeff Castelaz Steps Down as Elektra President: Exclusive". Billboard. Retrieved 13 November 2016. * ^ "Rock Stars in Iceland, Kaleo Makes Impact in US". Voices of America. 22 June 2016. Retrieved 13 November 2016. * ^ Carr, Courtney (7 October 2016). "Brent Cobb Releases Major-Label Debut Album". The Boot. Retrieved 13 November 2016.

FURTHER READING

* Jac Holzman and Gavan Daws (1998). Follow the Music: The Life and High Times of Elektra Records
Elektra Records
in the Great Years of American Pop Culture. First Media Books. ISBN 0-9661221-1-9 . * Mick Houghton (2010). Becoming Elektra. Jawbone Press. ISBN 978-1-906002-29-9 .

EXTERNAL LINKS

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