Elektra Records is a record label started in 1950 by Jac Holzman and Paul Rickholt , who both invested $300. It, along with Holzman's Nonesuch Records, was acquired by Kinney National Company in 1970 for $10 million. Holzman remained in charge until 1972, when Asylum Records and Elektra were combined and Asylum's director (David Geffen) was put in charge. Holzman were to start Discovery Records.
In 1972 Kinney grouped its record labels under the Warner Communications umbrella.
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