This Just In: Music World Acquires Compadre
At first it seems a hard circle to square — the same local label group serving as the home of both Billy Joe Shaver and James McMurtry and Beyonce/Destiny's Child and the Dreamgirls soundtrack, but that's just what has happened. Earlier this morning, the following announcement came in over the wires:
MUSIC WORLD ENTERTAINMENT ACQUIRES COMPADRE RECORDS
Compadre to be roots music imprint in Mathew Knowles' Music World Entertainment
(Houston, TX) - Music World Entertainment has acquired Houston-based roots music record label, Compadre Records. MWE, owned by entertainment industry mogul Mathew Knowles, 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.
"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 Mathew Knowles, President & CEO of Music World Entertainment.
"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."
The release goes on to note that the 29-year-old Turcotte and his current management and promotions team will all remain in place, and that the label's roots/country/Americana ethos will be unchanged. Compadre records will be distributed through MWE's partnership with Fontana Distribution.
And come to think of it, there is something Knowles and Turcotte have something in common besides the ability to sell records: both attended college in Nashville. Knowles is a graduate of Fisk; Turcotte of Belmont. May their business marriage make Houston another Music City. — John Nova Lomax