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Maverick (entertainment company)
Encyclopedia
Maverick, is an entertainment company founded by Madonna
, Frederick DeMann and Ronnie Dashev in April 1992
. It is owned and operated by Warner Music Group
.
as part of a $60 million recording and business deal. DeMann was bought out of the company for a reported $20 million in 1998, after which Guy Oseary
increased his stake in the company and took control as Chairman and CEO.
Maverick's record division has had noted triumphs with acts like Alanis Morissette
, Michelle Branch
, The Prodigy
, Candlebox
, and the band Deftones
. The label also had success with soundtracks for The Wedding Singer
, Jackie Brown
and The Matrix
. The film division has had moderate success with motion pictures such as Agent Cody Banks
.
In March 2004, Madonna and Maverick filed suit against Warner Music Group
and its former parent company, Time Warner Inc.
, claiming that mismanagement of resources and poor bookkeeping
had cost the company millions of dollars. In return, WMG filed a countersuit, alleging that Maverick had lost tens of millions of dollars on its own. On June 14, 2004, the dispute was resolved when Maverick shares owned by Madonna and Dashev were purchased — which effectively exiled the two of them from the company as it was now a wholly owned subsidiary of Warner Music. Oseary, meanwhile, remains CEO.
Madonna (entertainer)
Madonna is an American singer-songwriter, actress and entrepreneur. Born in Bay City, Michigan, she moved to New York City in 1977 to pursue a career in modern dance. After performing in the music groups Breakfast Club and Emmy, she released her debut album in 1983...
, Frederick DeMann and Ronnie Dashev in April 1992
1992 in music
This is a list of notable events in music that took place in the year 1992.-January–February:*January 11**Nirvana's Nevermind album goes to #1 in the US Billboard 200 chart, establishing the widespread popularity of the Grunge movement of the 1990s....
. It is owned and operated by Warner Music Group
Warner Music Group
Warner Music Group is the third largest business group and family of record labels in the recording industry, making it one of the big four record companies...
.
History
Consisting of a record company, music publishing, television, film, merchandising and book-publishing divisions. It was a joint venture between Madonna and Time WarnerTime Warner
Time Warner is one of the world's largest media companies, headquartered in the Time Warner Center in New York City. Formerly two separate companies, Warner Communications, Inc...
as part of a $60 million recording and business deal. DeMann was bought out of the company for a reported $20 million in 1998, after which Guy Oseary
Guy Oseary
Guy Oseary is an Israeli-American expert businessman who began his career in entertainment at 17 at what was to become Maverick Records. He is Madonna's manager.-Maverick:...
increased his stake in the company and took control as Chairman and CEO.
Maverick's record division has had noted triumphs with acts like Alanis Morissette
Alanis Morissette
Alanis Nadine Morissette is a Canadian-American singer-songwriter, guitarist, record producer, and actress. She has won 16 Juno Awards and seven Grammy Awards, was nominated for two Golden Globe Awards and also shortlisted for an Academy Award nomination...
, Michelle Branch
Michelle Branch
Michelle Jacquet DeSevren Branch is an American singer-songwriter, guitarist and actress. During the early 2000s, she released two top-selling albums, The Spirit Room and Hotel Paper, and was subsequently nominated for the Grammy Award for Best New Artist in 2003...
, The Prodigy
The Prodigy
The Prodigy are an English electronic dance music group formed by Liam Howlett in 1990 in Braintree, Essex. Along with Fatboy Slim, The Chemical Brothers, and other acts, The Prodigy have been credited as pioneers of the big beat genre, which achieved mainstream popularity in the 1990s and 2000s...
, Candlebox
Candlebox
Candlebox is an American alternative rock band from Seattle, Washington. Since their debut, the group has released four studio albums, which have achieved multi-platinum and gold certification, as well as numerous charting singles, a compilation, and a CD+DVD....
, and the band Deftones
Deftones
Deftones are an American alternative metal band from Sacramento, California, founded in 1988. The band consists of Chino Moreno , Stephen Carpenter , Chi Cheng , Frank Delgado , and Abe Cunningham . Currently Sergio Vega is standing in on bass while Cheng recovers from a car accident...
. The label also had success with soundtracks for The Wedding Singer
The Wedding Singer
The Wedding Singer is a 1998 romantic comedy film written by Tim Herlihy and directed by Frank Coraci. It stars Adam Sandler as a wedding singer in the 1980s and Drew Barrymore as a waitress with whom he falls in love....
, Jackie Brown
Jackie Brown (film)
Jackie Brown is a 1997 American crime drama film written and directed by Quentin Tarantino. It is an adaptation of the novel Rum Punch by American novelist Elmore Leonard and pays homage to 1970s blaxploitation films....
and The Matrix
The Matrix
The Matrix is a 1999 science fiction-action film written and directed by Larry and Andy Wachowski, starring Keanu Reeves, Laurence Fishburne, Carrie-Anne Moss, Joe Pantoliano, and Hugo Weaving...
. The film division has had moderate success with motion pictures such as Agent Cody Banks
Agent Cody Banks
Agent Cody Banks is an American action comedy film directed by Harald Zwart. Its story follows the adventures of the 15-year-old title character, played by Frankie Muniz, who has to finish his chores, avoid getting grounded, and save the world by going undercover for the CIA as a James Bond type...
.
In March 2004, Madonna and Maverick filed suit against Warner Music Group
Warner Music Group
Warner Music Group is the third largest business group and family of record labels in the recording industry, making it one of the big four record companies...
and its former parent company, Time Warner Inc.
Time Warner
Time Warner is one of the world's largest media companies, headquartered in the Time Warner Center in New York City. Formerly two separate companies, Warner Communications, Inc...
, claiming that mismanagement of resources and poor bookkeeping
Accountancy
Accountancy is the process of communicating financial information about a business entity to users such as shareholders and managers. The communication is generally in the form of financial statements that show in money terms the economic resources under the control of management; the art lies in...
had cost the company millions of dollars. In return, WMG filed a countersuit, alleging that Maverick had lost tens of millions of dollars on its own. On June 14, 2004, the dispute was resolved when Maverick shares owned by Madonna and Dashev were purchased — which effectively exiled the two of them from the company as it was now a wholly owned subsidiary of Warner Music. Oseary, meanwhile, remains CEO.
Divisions
- Maverick Recording CompanyMaverick RecordsMaverick Recording Company is an American record label owned and operated by Warner Music Group, and distributed through Warner Bros. Records.-Company history:...
— record company distributed by Warner Bros. RecordsWarner Bros. RecordsWarner Bros. Records Inc. is an American record label. It was the foundation label of the present-day Warner Music Group, and now operates as a wholly owned subsidiary of that corporation. It maintains a close relationship with its former parent, Warner Bros. Pictures, although the two companies... - Maverick FilmsMaverick FilmsMaverick Films is an American film production company which was founded in 1992 by Madonna, Frederick DeMann and Ronnie Dashev. It is the film division of entertainment company, Maverick and owned by Warner Music Group...
— film production company - Maverick Musica — Latin division of Maverick Records
- Maverick Books — book publishing
- MadGuy Television — television production
- MadGuy Films — film and television production
- Maverick Music — publishing division