WMG Sells Chrysalis Records To Blue Raincoat Music
Label Co-Founder Chris Wright Named Non Executive Chairman
June 2, 2016 at 10:35 AM (PT)
WARNER MUSIC GROUP has sold CHRYSALIS RECORDS to BLUE RAINCOAT MUSIC’s JEREMY LASCELLES and ROBIN MILLAR CBE, effective JUNE 24th, 2016. The deal brings CHRYSALIS co-founder and original owner CHRIS WRIGHT CBE back as Non Executive Chairman of the label 27 years after selling the company to EMI.
Artists on the roster include THE SPECIALS, SINEAD O’CONNOR, THE WATERBOYS, TEN YEARS AFTER, DEBBIE HARRY, FUN BOY THREE, ULTRAVOX, GENERATION X, the TWO TONE label and many more. The label, co-founded by WRIGHT and TERRY ELLIS in a student basement flat in 1968, will also look to sign new artists.
“This is a wonderful moment," CHRYSALIS RECORDS CEO JEREMY LASCELLES said. "CHRYSALIS RECORDS is for the first time in many years, back in the hands of an independent. And I’m doubly delighted that we have got CHRIS on board as well. For him to be reunited with a company that he started nearly 50 years ago is pretty special. CHRYSALIS is an iconic brand with an incredible catalogue containing some of the great songs of its era -- the likes of 'Ghost Town,' 'Nothing Compares To U,' 'The Whole of the Moon' and 'Vienna,' still sound as relevant today as they ever did.”
“For me this is an historic and emotional day as CHRYSALIS is back in the hands of myself and my partners at BLUE RAINCOAT," CHRYSALIS RECORDS Non Executive Chairman CHRIS WRIGHT said. "We’ll run it as an independent, revitalising the catalogue for the digital age. We believe it can become a new home for many established artists to sit alongside the incredible acts we already have.”
“There are reasons why great artists sometimes get through and sometimes don’t," CHRYSALIS RECORDS CCO ROBIN MILLAR said. "A great artist needs time, constant support and a strong team. That time and teamwork has been conspicuously absent in recent years. It’s no coincidence we don’t have enough artists that change the thinking of a generation today. We’re letting the air back into that room and re-igniting the genius that resides in the CHRYSALIS vaults which is a big part of that process”