Who bought Motown Records in 1988?

In 1988, MCA and Boston Ventures teamed up to buy Motown from founder Berry Gordy Jr. for $61 million.

What record company was Motown Records sold to?

MCA Inc.
Berry Gordy Jr., the former Detroit auto worker who built Motown Records into what was once the nation’s largest black-owned business, has sold the company for $61 million to MCA Inc.

Who owned Motown record label?

Motown, in full Motown Record Corporation, also called Hitsville, recording company founded by Berry Gordy, Jr., in Detroit, Michigan, U.S., in January 1959 that became one of the most successful Black-owned businesses and one of the most influential independent record companies in American history.

What is the name of Gordy’s famous record company?

the Motown Record Corporation
Berry Gordy, also called Berry Gordy, Jr., (born November 28, 1929, Detroit, Michigan, U.S.), American businessman, founder of the Motown Record Corporation (1959), which became the most successful Black-owned music company in the United States.

What was Motown’s studio called?

In 1959, Gordy formed his first label, Tamla Records, and purchased the property that would become Motown’s Hitsville U.S.A. studio.

Why did Berry Gordy sell Motown Records?

Mr. Gordy said he decided to sell the stake in the publishing catalogue in part because he had become disenchanted with the industry. Under terms of the deal, EMI will assume administration of the company’s day-to-day operations.

Why was Motown sold?

Many of its songs have become popular standards, frequently appearing on the record charts in updated versions by modern artists. Gordy, in an interview with the entertainment newspaper Daily Variety, said he had decided to sell Motown because, “In today’s economy, the big get bigger and the small get extinct. …

What company currently owns Motown today?

Motown Records, the company that introduced some of popular music’s biggest stars, including Michael Jackson and Stevie Wonder, has been sold to MCA Inc. and an investment banking firm for $61 million, it was announced today.

What famous producer and songwriter founded Motown Records?

Berry Gordy Jr.
It was founded by Berry Gordy Jr. as Tamla Records on January 12, 1959, and incorporated as Motown Record Corporation on April 14, 1960. Its name, a portmanteau of motor and town, has become a nickname for Detroit, where the label was originally headquartered.

Does Motown studio still exist?

Today, the “Hitsville U.S.A” property operates as the Motown Museum, which is dedicated to the legacy of the record label, its artists, and its music. The museum occupies the original house and an adjacent former residence.

Does Diana Ross own Motown?

The singer Diana Ross has become a part owner of Motown Records and has agreed to resume recording for the label she helped propel to popularity in the 1960’s.