Posted: 23 August 2007 - From NME.com
Madonna has sold her label Maverick Records.
Warner Music Group who owned the label has agreed to buy the singer out of her contract.
Madonna founded the label 12 years ago and it had been home to the singer as well as Alanis Morissette and the US base for The Prodigy.
Madonna and partners Guy Oseary and Ronnie Dashev together have owned 60 per-cent of the company; Warner Music owned 40 per-cent.
In March, Maverick filed suit against Warner Music and its former parent Time Warner Inc claiming breach of contract and alleging that they had misstated Maverick's profits and mismanaged the company, costing Madonna and her partners millions of dollars.
Warner Music filed a lawsuit of its own against Maverick claiming the company had lost tens of millions of dollars.
Despite rumours that the singer was leaving Warner Music, this was denied by Maverick's lawyer Bert Fields.
He told CBS: '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.'

Wow

Well besides Alanis who else is signed to Maverick?? Do people in the usa even remember Prodigy??

Sounds like she's getting ready to jump, shame its not off a building.

I dont think Meshell is still there?
Speaking of Meshel and Maverick, do you think there is plans for her catalogue and unreleased music? Do you think Warners care? or you think they could have sold it to her for cheap? I'd also be curious to know how many records she sold. did she sell well ever?

twink69 said:

i wouldn't be surprised if they put out a collection. i didn't know she had 5 albums under the Maverick label.

This would seem to make it even more likely she's gonna leave WB and do that Live Nation deal.

I thought I remember reading this same story several years ago about the lawsuit and her selling her share. This doesn't seem like anything new and doesn't seem like it has any relationship to whether she plans to leave Warner Bros.

lazycrockett said:

They should remember the Prodigy, they were awesome!!!....but I get the impression that European dance music never real caught on in the States

I though she sold it years ago when this lawsuit was going down. I noticed her last album wasn't on Maverick (maybe the last two?).

I can't believe shes letting go of this label,
isnt it the most sussesful vanity label.

VinnyM27 said:

the settlement of the lawsuit was with Madonna and Ronnie selling their shares. That was resolved after RIT.

Confessions was released on WB with no Maverick Imprint.

paper said:

She can't make money off of it anymore

Alanis was given to that label to get it going. Thats what Prince was talking about when he was talking about being fair and having a level playing field ( in the travis smiley bet live) interview.

Yhe marerick imprint has been losing money by the loads for the longest time if she had got rid of it yrs she would have saved herslef some money