Elektra’s Krasnow Joins MCA Music Group to Form New Record Label
UNIVERSAL CITY, Calif. (AP) _ Bob Krasnow, who resigned as chairman of Elektra Entertainment in a bitter power struggle earlier this year, will join the MCA Music Entertainment Group and form a new record label.
MCA said Thursday that the yet-unnamed label will be based in New York and its records will be distributed and marketed worldwide by MCA. The first album is expected next summer.
Krasnow resigned from Time-Warner Inc.’s Elektra label July 13 after Doug Morris was named president of the Warner Music Group U.S.
Morris’ promotion meant that Krasnow, who had previously reported to Time Warner chairmen Steve Ross and Gerald Levin, would have to report to Morris.
Feeling his autonomy was threatened, he resigned.
While leading Elektra, Krasnow enjoyed a strong reputation as an artists- oriented executive with a good ear for emerging talent. His record label at MCA will initially be small and dedicated to signing either new or established artists.
Krasnow’s years at Elektra were generally successful; he was associated with such artists as Jackson Browne, Metallica, Motley Crue, 10,000 Maniacs, Tracy Chapman, Anita Baker and Natalie Cole.
A sister label released classical artists Kronos Quartet and Philip Glass.
He served as Elektra chairman since 1983 and had been associated with the Warner Bros. record labels for 20 years.
Krasnow recently formed Krasnow Entertainment, devoted to music, film and television. It will remain autonomous.