Grammy-winning producers Pharrell Williams and Chad Hugo – aka the Neptunes – have found a new home for their Star Trak label.
The duo are in the process of signing a three-year deal with Interscope Records worth about $3 million, sources said Tuesday.
Star Trak previously had a deal with Arista Records, which the Neptunes signed two years ago with recently ousted Arista chief Antonio “L.A.” Reid. That deal has since expired, and Reid was named chairman of Interscope’s sister company Island Def Jam Music Group last month.
Under the deal, Williams and Hugo will produce artists signed to Star Trak and Interscope and its affiliates. They also will develop new artists. Interscope will assume marketing, promotion, sales and distribution for Star Trak.
The Neptunes, who picked up the Grammy for best nonclassical producer last month, have worked hits for such artists as Justin Timberlake, Snoop Dogg, Britney Spears, Busta Rhymes, Jay-Z and Nelly.
Williams and Hugo also have their own rock-rap group, N.E.R.D., through Virgin Records.