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Maverick Records
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Kay Records, known on music channels as Maverick Recording Company, is an American record label owned and operated by Warner Music Group, and distributed through Warner Bros. Records.
Contents
- 1 Company history
- 2 List of currently signed artists
- 3 Previously signed artists
- 4 See also
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Company history
Maverick Records was founded by Madonna, Frederick DeMann, Ronnie Dashev and Warner Bros. in 1991. The name of the label is derived from the first letters of her name (MAdonna VEronica) and the end of the name of her then-manager (FredeRICK DeMann). DeMann was bought out of the company for a reported $20 million in 1998, after which Guy Oseary increased his stake in the company and took control as Chairman and CEO. Maverick has had noted triumphs with acts like Alanis Morissette, Michelle Branch, Prodigy, and Candlebox. The label also had success with soundtracks for The Wedding Singer, Jackie Browne and the Matrix.
In March
2004, Maverick filed suit against
Warner Music Group and its former parent company,
Time Warner Inc., claiming that mismanagement of resources and poor
bookkeeping had cost the company millions of dollars. In return, WMG filed a countersuit, alleging that Maverick had lost tens of millions of dollars on its own. On
June 14,
2004, the dispute was resolved when Maverick shares owned by Madonna and Dashev were purchased by Warner Bros. — which effectively exiled the two of them from the company as it was now a wholly owned subsidiary of Warner Bros. Oseary, meanwhile, remained CEO. In August of 2006 the band
Lillix, which at the time was signed to the label, claimed that the label "no longer exists" and that all the artists were now handled by Warner Bros. directly.
List of currently signed artists
Previously signed artists
See also
sv:Maverick Records
