RCA, J RECORDS JOIN HANDS; BMG Taps Clive Davis To Be Chairman of the Two Labels
Tue Nov 19 2002 14:49:19 ET
Dear Colleagues:
Today I am happy to announce BMG's full acquisition of our joint venture
with Clive Davis' J Records. But I am even more pleased to announce that
Clive Davis is returning to BMG as the Chairman of a new RCA Music Group.
The acquisition of J Records now allows us to realign key assets in the BMG
family. So we are forming a newly configured RCA Music Group, which will
include J Records and RCA Records. The two labels together make up what I
think will be a super label run by an executive whose track record in the
music industry is unmatched. Also, Charles Goldstuck, who helped establish J
Records, will serve as the President and Chief Operating Officer of the RCA
Music Group.
More details will follow, but for now the other parts of the former RCA
Music Group, such as RLG-Nashville, BMG Canada, RCA Victor, Strategic
Marketing, BMG Heritage, and BMG Special Products, will report, on an
interim basis, to Michael Smellie. At RCA Records, Richard Sanders will
continue as general manager.
Bob Jamieson will be stepping down as Chairman of the existing RCA Music
Group. I want to thank Bob Jamieson personally for his invaluable
contributions to RCA and BMG. As President of BMG Music Canada in the early
1990s, he invigorated that company and made it one of the strongest in the
BMG family. When he came to RCA Records in 1995, Bob salvaged what was a
faded record label. When he was President of RCA, it experienced several
years of record-breaking sales and market share. Bob was instrumental in
developing some of today's biggest rock and pop acts, including Christina
Aguilera, Dave Matthews Band, and The Foo Fighters. It's our hope that Bob
will remain close and we are in discussions about a future role for him at
BMG.
It will be a challenge for Clive to establish our new RCA Music Group, but I
know Clive is energized by this challenge, and so am I. You should know that
from my first days at BMG, I wanted to re-establish our relationship with
Clive Davis. I think of Clive as a partner and as a man who epitomizes the
BMG entrepreneur. Clive focuses on the artist and he knows how to take
action - the very elements that are at the core of BMG. By bringing J and
RCA under Clive, I feel we can take both labels to a new level of creative
and financial achievement.
BMG has made great strides this year and with your help, we've overcome
great odds. But as Clive himself knows and practices, you never rest on your
laurels. I look forward to working with Clive in a partnership on creating
an even stronger BMG.
