Influential independent Kiwi rock label Flying Nun has been bought back from its multinational owners by founder Roger Shepherd.
After establishing the company with records by the Clean, the Chills and others in the early 80s, he sold his interest in the 1990s and eventually left the music business.
Now Wellington-based Mr Shepherd has bought the label back from the Warner Music group.
"It's been suggested to me by some people that there's an element of madness to it because the music business is in a state of chaos. But I think it's quite an exciting time," said Mr Shepherd, who founded Flying Nun in Christchurch in 1981.
The label has been home to bands such as Straitjacket Fits, the Headless Chickens, the Bats and more recently the Phoenix Foundation and the Mint Chicks.
Much of the music the label produced - especially in its 80s and early 90s heyday - influenced many international artists.
Mr Shepherd sold a 50 per cent stake Australia's Festival Mushroom Records in 1990, and in 2005 Warner Music took full control of Flying Nun when it bought FMR.
He has been negotiating the purchase back from Warner Music for 18 months.
With Mr Shepherd back in charge of the catalogue it will mean music that has been unavailable for many years will be reissued.
He never expected it to come full circle. But when he came back to live in New Zealand from Britain four years ago he realised how significant Flying Nun's music had become.
"It seemed like the right thing to do on behalf of the music and the bands who made it. So there's two aspects to what I'm doing: looking after the back catalogue, and doing the right thing by the music."
Mr Shepherd would not comment on how buying the label back stacks up financially.
"The big part of this is getting back involved and there's a big chunk of New Zealand history in there that we're helping look after."
He joked the price was more than the $50 he spent on producing Tally Ho, the Clean's 1981 debut single. That deal turned out okay, with the disc going on to sell more than 10,000 copies.
One of his first priorities is to make the music of noisy pop outfit the 3Ds available in time for the coming reunion as part of Auckland's Laneway Festival on February 1.
As well as reissuing music on CD, vinyl and digital formats, he will also be looking to sign new local acts.
"It can't just be a retrospective label. You've got to keep doing new stuff to keep it fresh and keep the catalogue interesting."
The label's "Dunedin Sound" veterans welcomed the news, saying it would invigorate the label, which had stagnated since Mr Shepherd's departure. David Kilgour, of the Clean, said it was great to see him take ownership of the label.
Chills frontman Martin Phillipps said fans "were clamouring for some of our older albums" and reissues would be welcome.
The Verlaines founder and music academic Dr Graeme Downes said the strength of the label was Mr Shepherd's ability to pick the right artists.
- ADDITIONAL REPORTING: OTAGO DAILY TIMES
Founder reclaims Flying Nun label from Warner
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