Tuesday 5 February 2013, 12:04 | By Chris Cooke
Universal renews Republic relationship
Universal Music has announced a new deal with Monte and Avery Lipman, the founders of Republic Records, which has operated in one form or another as a Universal affiliate or division since 1995.
Confirming the brothers had entered into a new “long-term agreement” to stay with Universal, taking the jobs titles of CEO and COO of the Republic Records unit, Universal boss man Lucian Grainge told CMU: “Monte and Avery have established themselves as one of the industry’s most formidable creative teams. They are truly world class music executives who have rewritten the rules for breaking new talent. We couldn’t be more delighted that they will continue building Republic as a home for truly inventive artists”.
The brothers added, seemingly in unison: “We work every day towards building a culture that supports the artist community and the entrepreneurial spirit that shapes our company. The unparalleled support of Lucian and [UMG East Coast labels chief] Barry [Weiss] for Republic continues to inspire us to be competitive, while serving the needs of our extraordinary artists, venture partners, and dynamic executives”.