Capitol Records

Capitol One LLC (CAP) is an American record label that is part of the Capitol Music Group and is a wholly owned division of Universal Music Group. Capitol was founded as the first West Coast-based label in the U.S. in 1942 by three industry insiders, Johnny Mercer, Buddy DeSylva, and Glenn Wallichs. Eventually acquired by EMI (which was acquired by Universal Music in 2012 and merged with UMG in 2013 after selling former sister label Parlophone to Warner Music), the label has released records in many musical genres. Its circular Los Angeles headquarters building Capitol Records Tower is a recognized landmark.

History

1940s

The Company was founded by songwriter Johnny Mercer in 1942, with the financial help of fellow songwriter and film producer Buddy DeSylva, and the business acumen of Glenn Wallichs, the owner of Wallichs Music City.

Mercer first raised the idea of starting a record company while golfing with Harold Arlen and Bobby Sherwood. By 1941, Mercer was an experienced songwriter and a singer with multiple successful releases. Mercer next suggested the idea to his friend Wallichs while visiting Wallichs' record store. Wallichs expressed interest and the pair negotiated an agreement whereby Mercer would run the company and identify the artists, while Wallichs managed the business side.