Re: U2 to the Rescue

John J. Hlavaty ([email protected])
Mon, 31 Aug 1998 19:44:28 +0000

Deseree Stukes ([email protected]) wrote:

> In one of the U2 books, isn't it mentioned that instead of getting
> paid when Island was cash poor years ago, didn't U2 accept stock, shares,
> or some similar interest years ago in Island Records? Did that change?
> So, despite Blackwell having left, they may still have a vested
> interest in seeing the Island label not crushed in the Seagram's
> reorganization.

That may be, but I thought that U2 sold their share of Island
stock in 1989. Therefore, financially, I don't know how
much U2 still have invested in Island.

However, on a moral or even emotional level, things may be
different. If U2 can pull Island away from Seagram and restore
it under Blackwell's leadership (if such a thing is possible),
I think that would be ideal. We need more labels that are
willing to take a chance on their artists and let them
"struggle" a bit before finding their audience. The world
is already too full of one hit wonders or "instant success"
type of groups. These groups ultimately hurt creativity more
than promote it.



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