Ripped directly from the HITS Daily Double Rumor Mill:
MYSPACE RECORDS OUT OF SPACE? With the imminent News Corp. sale of MySpace, the website’s MySpace Records looks like it’s shuttering for good this time. The label, which was formed in 2005 and aligned with Interscope Records, announced a partnership with Downtown Music last September. Since then, the label has been steadily dismantled by GM David Andreone, who took the helm just over a year ago and will leave at the end of the month to reportedly take a job at a digital music company. He has been helping the acts find new label homes, and even getting their master recording rights back. One act drawing some attention is Meiko, who already has a strong track record in sales, touring, film and TV placements. (5/31p)
A more thorough report here from RM64.com:
As the News Corp. sale of MySpace is close at hand (with an announcement expected in the coming weeks), so too is MySpace Records shuttering, for good this time. Early 2010 began the initial dissolving of the label, which was formed in 2005 and aligned with Universal Music Group label Interscope Records via a P&D deal that has now lapsed, and since last year the operation has continued under a skeletal staff and somewhat ambiguous circumstances – a partnership with Downtown Music was announced back in September.
However, with the writing on the wall as to MySpace’s future, and a scaling back of many divisions, MSR began to be dismantled, a process which was guided by label GM David Andreone who took the helm just over a year ago. Among many duties, Andreone has also helped the artists signed to MSR find new label homes, and even get master recording rights back – some albums previously released by the label have already been pulled down from digital marketplaces such as iTunes…
One former MySpace Records/Interscope artist, and now free agent who is getting a lot of industry attention, Meiko, has just completed a new album produced by Styrofoam and Jimmy Messer, and mixed by Brian Malouf. We hear that labels on both coasts are talking to the songstress, who already has a strong track record with sales, touring and film & TV… And word is that Andreone, a veteran of both the music publishing and record label arenas, is likely to transition to one of a handful of digital music companies in play, after he departs his post at the end June… Stay tuned.