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Business News Labels & Publishers
MySpace Records not closing
By CMU Editorial | Published on Monday 18 January 2010
An update on MySpace Records, the record label backed by the social networking giant which, in news that will surprise many of you, is apparently still operational.
The US-based label was launched back in the early days of MySpace moving into the music domain, and is probably best known for releasing the 2008 album by Pennywise, ‘Reason To Believe’.
There were rumours the JV label, also backed by Universal’s Interscope, was about to close on Friday as it was announced its GM, Jay Scavo, was returning to Hollywood Records. Other execs were also reported to have been let go.
However, various sources say the label will continue to operate and its current roster of artists will remain signed to it. Not sure who will be left to run it all, though.
