Friday 25 January 2013, 12:27 | By Chris Cooke
Downtown splits as founders buy back label
US based independent Downtown Music is splitting its recordings and publishing operations into two separate companies, with the firm’s original co-founders taking control of the label.
Josh Deutsch and Terence Lam will now own and oversee Downtown Records, which has worked with the likes of Gnarls Barkley, Cold War Kids, Duck Sauce, Justice, Major Lazer and Miike Snow over the years. The label’s GM Michael Pontecorvo and his team will join Deutsch and Lam at the new stand-alone record company.
Meanwhile Downtown Music Publishing will continue to be led by its president Justin Kalifowitz and his existing top team. Downtown’s rights management platform, production music library and studios business will stay with the publishing company.