Penalty Records
Encyclopedia
Penalty Records was started in 1995
1995 in music
This is a list of notable events in music that took place in the year 1995.- January–February :*January 18 – Jerry Garcia crashes his rented BMW into a guard rail near Mill Valley, California, USA, but is not injured in the accident....

 as a joint venture between Tom Silverman
Tom Silverman
Tom Silverman is the founder, chairman and CEO of the record label Tommy Boy Records , and he is co-founder of the independent film and television company Tommy Boy Films. Silverman co-founded Dance Music Report magazine, which ran from 1978 to 1992, and he co-founded the Dance Music Hall of Fame,...

 (from Tommy Boy Records
Tommy Boy Records
Tommy Boy Entertainment is an independent record label started in 1981 by Tom Silverman.-History:...

) and Neil Levine. Silverman acquired Levine's shares in 1999 and Penalty Records was absorbed by Tommy Boy Records.
A new version of Penalty Records was relaunched in 2003 through Rykodisc and is still operating, although now through EMI
EMI
The EMI Group, also known as EMI Music or simply EMI, is a multinational music company headquartered in London, United Kingdom. It is the fourth-largest business group and family of record labels in the recording industry and one of the "big four" record companies. EMI Group also has a major...

.
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