Interscope Geffen A&M said it has entered into a joint venture with Octone Records, home to rockers Maroon 5, to launch a new label, dubbed A&M/Octone.
As part of the deal, A&M/Octone was also acquiring Sony BMG Music Entertainment’s interest in OctJay, a joint venture between Sony BMG and Octone, Interscope said.
Financial details weren’t disclosed.
James Diener, who founded Octone Records in 2000 while also holding an executive role at J Records and The RCA Music Group, will run A&M/Octone as chief executive and president. Diener is also bringing two members of his executive staff to the new label.
A&M/Octone will be based in New York. Its releases will be distributed by Interscope parent company, Vivendi SA’s Universal Music Group.
The label will seek to sign new recording artists while also working with acts previously signed to Octone, including Maroon 5, Flyleaf and Michael Tolcher, and select Interscope artists.
Artists already under the A&M arm of Interscope will continue to be marketed under the A&M label, the company said Tuesday.
A&M/Octone’s first release is expected to be Maroon 5’s follow-up to its debut album, “Songs About Jane.”