Madonna Sells Her Label Maverick Records
Wed, 22 Aug 2007 09:18:21
Madonna has sold her inconsistent label Maverick Records to its parent company Warner Music Group. The corporation agreed to buy the material woman out of her contract as label owner of Maverick Records, which she founded twelve years ago. Back in its early years, the label had a string of success with Alanis Morissette and The Prodigy.
As of late, Maverick—which doesn't even have an operational website—has found it difficult to duplicate that universal success. Madonna herself will remain on the label's roster. Her lawyer Bert Fields confirmed this on CBS News saying, "It was an effective way of settling the lawsuit. It's clean and equitable, and it doesn't have anything to do with her record contract."
—The ARTISTdirect Staff