Maverick (company)

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This article is about the company co-founded by Madonna. For the Florida-based film distributor, see Maverick Entertainment Group.
Maverick
Entertainment management · Entertainment
Industry Music · Film · Entertainment
Founded 1992 (company)
2014 (management group)
Founder Madonna · Frederick DeMann · Veronica "Ronnie" Dashev (1992) · Guy Oseary (2014)
Headquarters Burbank, California, United States
Key people
Guy Oseary (CEO) · Ron Laffitte · Caron Veazey · Gee Roberson · Cortez Bryant · Larry Rudolph · Adam Leber · Scott Rodger · Clarence Spalding
Products Management · Music · entertainment · Motion pictures · television programs · music videos
Website Maverick.com

Maverick was originally founded in 1992 an entertainment company by Madonna, Frederick DeMann and Veronica "Ronnie" Dashev in 1992. It was owned and operated by Warner Music Group. It includes a recording company (Maverick Records), a film production company (Maverick Films), book publishing, music publishing, Latin record division (Maverick Musica) and television production company. The first releases for the company was Madonna's 1992 coffee table publication, Sex and her studio album Erotica which were released simultaneously to great controversy. DeMann was bought out of the company for a reported $20 million in 1998, after which Oseary increased his stake in the company and took control as Chairman and CEO. Madonna and Dashev left in 2004 after a lawsuit between Maverick and Warner Music Group. Madonna's recording contract remained with Warner Bros. Records under a separate agreement until 2009.

As of 2014, the company has evolved into a management group founded by Guy Oseary in partnership with Live Nation Entertainment. It comprises of Oseary and other recording artist managers Ron Laffitte, Caron Veazey, Gee Roberson, Cortez Bryant, Larry Rudolph, Adam Leber, Scott Rodger and Clarence Spalding. All nine managers and their companies have joined and rebranded as "Maverick" on October 17, 2014.

History[edit]

The name of the company derives from the names of its founders; MAdonna, VERonica and FredeRICK. Consisting of a record company, music publishing, television, film, merchandising and book-publishing divisions. It was a joint venture between Madonna and Time Warner as part of a $60 million recording and business deal. It gave her 20% royalties from the music proceedings, one of the highest rates in the industry, equalled at that time only by Michael Jackson's royalty rate established a year earlier with Sony.[1] The first releases for the company was Madonna's 1992 coffee table publication, Sex and her studio album Erotica which were released simultaneously to great controversy.[2]

Record company[edit]

Maverick's record division, Maverick Records, started with the release of Madonna's 1992 album Erotica and had successful acts including Alanis Morissette, Michelle Branch, The Prodigy, Candlebox, and the band Deftones. The label also released soundtracks for The Wedding Singer, Jackie Brown and The Matrix which were commercially successful. The company has since folded as of 2007.[3]

Lawsuits[edit]

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. Madonna and Maverick sued Warner Music Group and its former parent company Time Warner, claiming that mismanagement of resources and poor bookkeeping had cost the company millions of dollars. In return, Warner filed a countersuit alleging that Maverick had lost tens of millions of dollars on its own.[4][5] The dispute was resolved when the Maverick shares, owned by Madonna and Dashev, were purchased by Warner. Maverick became a wholly owned subsidiary of Warner Music Group, but Madonna was still signed to Warner under a separate recording contract.[4]

Management group[edit]

In 2014, Oseary announced that he was forming a joint venture with Live Nation Entertainment to establish a management group and will amalgamate other managers and their companies into one venture. Oseary is joined by Laffitte Management's Ron Laffitte, I Am Other's Caron Veazey, Blueprint Group's Gee Roberson and Cortez Bryant, Reign Deer's Larry Rudolph and Adam Leber, Quest Management's Scott Rodger and Spalding Entertainment's Clarence Spalding. All nine managers joined together their companies and rebranded them and their respective employees as "Maverick" on October 17, 2014.[3]

Artists[edit]

Ref:[6]

Former companies[edit]

  • Maverick Recording Company — record company distributed by Warner Bros. Records (1992-2007)[3]
  • Maverick Films — film production company (1992-2009)
  • 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

References[edit]

  1. ^ Holden, Stephen (1992-04-20). "Madonna Makes a $60 Million Deal". The New York Times. Retrieved 2008-05-27. 
  2. ^ Kirschling, Gregory (2002-10-25). "The Naked Launch". Entertainment Weekly. Retrieved 2008-05-27. 
  3. ^ a b c Hampff, Andrew (2014-10-17). "Managers of U2, Pharrell, Madonna & More Unite to Revolutionize the Music Industry". Billboard Magazine. Retrieved 2014-03-19. 
  4. ^ a b "Madonna's label sues record giant". BBC. 2004-03-26. Retrieved 2008-06-07. 
  5. ^ Shawhan, Jason (2007-08-26). "Madonna sells record company". NME (IPC Media). Retrieved 2008-06-09. 
  6. ^ [1]