Jordan Schur, president of Geffen Records for more than six years, and Interscope Records have entered into a joint venture, Suretone Records, giving Schur a chance to return to his roots running a rock-oriented label.
Schur, who founded and still owns Flip Records with the Firm’s CEO, Jeff Kwatinetz, will bring with him five acts that have already released albums through Universal Music Group’s Geffen and Interscope labels. He has three new bands as well.
Suretone will be the home to the Cure, Weezer, New Found Glory, Rooney and the new band from Blink-182 founder Tom DeLonge, Angels and Airwaves. Imprint’s rookies are the Pink Spiders, Eastern Conference Champions and Headway.
The 3½ year deal covers the length of Schur’s current contract. There will be a one-year option after that.
Current release schedule calls for the Angels and Airwaves release in June, Pink Spiders in July, New Found Glory in September and Rooney in October. A new album from the Cure and Weezer’s greatest hits are penciled in for the fourth quarter. All newly signed acts will be on Suretone Records and released by Interscope.
Label hopes to sign up to four acts a year, Schur told Daily Variety.
“There has not been that rock (music) engine in Interscope,” said Schur, whose other business interests include fashion lines with his wife, a Gotham real estate company with his father and a document storage business on the East Coast. “I felt strongly about keeping the tone of the company (to rock music). And by staying in the building, life doesn’t change at all.”
Suretone releases will be supported by staff at Interscope or Geffen; the Suretone staff will consist of two or three A&R execs, a general manager and one or two new-media execs.
Within the next few weeks, Universal Music Group is expected to announce that Ron Fair has been promoted to chairman of Geffen-A&M. It is possible that Sylvia Rhone will not continue as Geffen president and will instead take a position high in the Interscope Geffen A&M label group.
Schur, 41, became the head of Geffen Records in 1999. MCA Records was merged into Geffen Records in 2003 and, a year later, DreamWorks Records was folded in. Anthony joined the label as co-prexy at that time.
Geffen’s roster includes Ashlee Simpson, Mary J. Blige, Counting Crows, Common, Sigur Ros and Puddle of Mudd.
At Flip, Schur was among the first execs to use lifestyle marketing, street teams and the Internet to break acts such as Limp Bizkit and Staind.