By Alan Ho
Interscope Geffen A&M, a unit of Universal Music Group announced today (October 7) that it will buy out the remaining 50% share of the A&M/Octone joint venture from parent Octone Records. The venture was formed in 2007 and was slated for a mid-2014 conclusion before the surprise announcement was made.
Founder, CEO and President James Diener and his team were involved in developing and signing acts like Maroon 5, Hollywood Undead, Flyleaf and superstar MC K’naaan, among other acts.
“James and everyone at A&M/Octone created a fantastic home for their artists, and their commitment to that roster has been unparalleled,” commented John Janick, President and COO of Interscope Geffen A&M in the prepared press release. “We wish James nothing but the best as he embarks on his next venture.”
Diener adds, “On behalf of the entire A&M/Octone executive team, I want to extend sincere thanks to Jimmy Iovine, John Janick and Interscope Geffen A&M for an incredible partnetship over the past 6 years. We are also indebted to Lucian Grainge and the worldwide Universal Music family, who took exceptional care of our artists and projects throughout the relationship.”
Now, the question is, what becomes of the roster. especially the aforementioned artists and especially Maroon 5? We shall see.