M&G Records was a record label

Record label

In the music industry, a record label is a brand and a trademark associated with the marketing of music recordings and music videos. Most commonly, a record label is the company that manages such brands and trademarks, coordinates the production, manufacture, distribution, marketing and promotion,...

 founded by Michael Levy after he sold his previous label Magnet Records

Magnet Records

Magnet Records was a record label started in 1973 by Michael Levy and acquired by Warner Bros. Records in 1988 for an estimated £10m.Artists on the label included Alvin Stardust, Matchbox, Adrian Baker, Silver Convention, Guys 'n' Dolls, Darts, Kissing the Pink, Bad Manners, David D'Or, Blue Zoo...

 in 1988 to WEA

Warner Bros. Records

Warner Bros. Records Inc. is an American record label. It was the foundation label of the present-day Warner Music Group, and now operates as a wholly owned subsidiary of that corporation. It maintains a close relationship with its former parent, Warner Bros. Pictures, although the two companies...

 for an estimated £10 million.

History

After Magnet was sold and merged into Eastwest Records in the UK, Levy set up M&G Records with backing from Polygram. The name "M&G Records" was derived from the initials of both Levy's first name and that of his wife Gilda. M&G was sold in October 1997

1997 in music

This is a list of notable events in music that took place in the year 1997.-January:*January 9 – David Bowie performs his 50th Birthday Bash concert at Madison Square Garden, New York City, USA with guests Frank Black, The Foo Fighters, Sonic Youth, Robert Smith of The Cure, Lou Reed, and Billy...

 for an undisclosed sum and folded into the main Polydor Records

Polydor Records

Polydor is a record label owned by Universal Music Group, headquartered in the United Kingdom.-Beginnings:Polydor was originally an independent branch of the Deutsche Grammophon Gesellschaft. Its name was first used as an export label in 1924, the British and German branches of the Gramophone...

 label. Its most successful act was "Sunshine on a Rainy Day" singer Zoe

Zoe (singer)

Zoë is a British pop singer and songwriter, who had brief success in 1991 with two hit singles, "Sunshine on a Rainy Day", which climbed to #4 on the UK Singles Chart, and "Lightning", which reached #37...

. Other acts included Little Axe

Little Axe

Little Axe is the stage name of Skip McDonald an American blues musician. McDonald played jazz, doo-wop, and gospel when young, and moved to New York as a teenager with his band of friends, called The Entertainers.Axe joined the group Wood Brass & Steel in 1973 with bassist Doug Wimbish and...

, Jai

Jason Rowe

Jason Rowe, who formerly recorded under the name Jai, is a British pop and soul singer currently residing in Bristol, England.- Biography :...

, Raw Stylus

Raw Stylus

Raw Stylus was a London-based dance music outfit whose core members were Donna Gardier, Jules Brookes and Ron Aslan. In 1995 they released the single, "Believe In Me", which reached #1 on the U.S. Hot Dance Club Play chart. It was a minor success in the United Kingdom reaching #66 on the UK...

, and "Fair Blows the Wind for France" band Pele

Pele (band)

Pele were an English indie rock band, formed on Merseyside in 1990, by the guitarist and frontman Ian Prowse and keyboard player Andrew Roberts. They were joined by Dally on drums, Jimmy McAllister on bass guitar and finally Nico on violin...

.