Compadre Records Bought By Beyonce's FatherPosted: Feb 27, 2007
Compadre Records, the Houston, TX roots music label, was bought by Music World Entertainment, owned by Mathew Knowles, father of Beyoncé. MWE will now control Compadre's catalog and continue to invest in future projects. Compadre's staff will join the Music World organization to continue label functions as a roots music imprint.
Compadre 's roster includes Billy Joe Shaver and James McMurtry.
"I have admired Compadre's business accomplishments over the years and see incredible growth potential in the future with our acquisition. They are a company that shares our goals and values and we look forward to their team joining ours." said Knowles, President & CEO of Music World Entertainment in a press release.
"I had been reviewing interest from other potential suitors for a couple of years, but everything seemed like a lateral move," said Compadre Records founder Brad Turcotte. "However, Mr. Knowles and his team not only offer an extreme knowledge of mainstream promotion, but his company has a strong, aggressive grassroots marketing system. It truly is the best of both worlds. He is committed to help us grow, which was the most important factor in my decision. And most importantly, we're excited to be a part of his label and management roster's continued success."
Under the new structure, Compadre will continue to sign rock, roots and country artists. All Compadre projects will be distributed in North America through MWE's partnership with Fontana Distribution.
Turcotte, 29, will maintain his role as President of Compadre and will assume a new role as an Executive Vice President of Music World. Logan Rogers, Compadre's Vice President and Director of A&R, will take on the role of Chief Creative Officer for Compadre and will continue to be based in Nashville.
Turcotte started Compadre in 2001 while in law school. The label has released more than 30 albums from McMurtry, Shaver, Suzy Bogguss, Townes Van Zandt and Hayes Carll. Compadre has also released a successful series of compilations, and was formerly distributed by Sony BMG/RED. Turcotte previously managed Warner Nashville singer Rick Trevino and Shaver.
MWE includes record labels, artist and producer management, staff producers, artist development, master catalog series, investment and property holdings, including offices in Houston, Los Angeles, New York and London. Knowles and his company managed Beyoncé and Destiny's Child. As a record label, Music World has sales of more than 100 million records from Destiny's Child, Beyoncé, Solange Knowles, Michelle Williams, Sunshine Anderson, the "Dreamgirls" soundtrack and "Roll Bounce" soundtrack and the highly anticipated upcoming Music World Master Series releases, which includes Chaka Kahn and The O'Jays.