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Music Veteran and Financial Leaders Announce Formation of New Record Label

Business Wire,  July 24, 2003  

Business Editors

NEW YORK--(BUSINESS WIRE)--July 24, 2003

Music industry veteran Jack Ponti, along with financial leaders Akbar Shamji and Francois Pham-Quang today announce the formation of Bardic Records (under the parent company Visigoth Entertainment Holdings). Bardic Records will function as a record label and incubator for undiscovered, independent and online artistic talent and will be distributed exclusively by RED/Sony in North America.

Based in London and New York, Bardic will target artists that can potentially synergize best within the company's framework. Once artists are identified, Bardic will provide artists with the critical financial, creative, and internal resources necessary for growth, acting as an "incubator" to help artists through their most critical periods of development. "Though times are tough and changing, it's an exciting time in the music business," says Bardic Records President Ponti. "The challenge is creating an economic template that allows artistic growth and rewards to both parties in this climate. We've taken what we consider the strengths of many schools of thought, combining them into an alternative view of things. We are especially thrilled to be part of the RED/Sony family."

Ponti is a seasoned music industry executive, most recently heralded for managing India.Arie during the time of her phenomenal debut album Acoustic Soul that sold more than 3 million copies. Francois Pham-Quang stepped down as Head of Leveraged Sales Europe at Lehman Brothers in London to become CEO of Bardic Records. Finally, Akbar Shamji, founder of Soulife Recordings/Atlantic, which produced the wildly successful urban artist Sunshine Anderson, will act as COO.

"I'm excited to be part of a venture that combines the ideology of many different worlds; financial, independent, major label and online realms," says Pham-Quang. "The interesting thing is the meshing of those diverse concepts into a functional model."

Visigoth Entertainment Holdings was formed by a financial group lead by Pham-Quang to identify and acquire or establish various ventures in the entertainment industry. Bardic Records expects their first releases to be early 2004, with singer/songwriter Allison Crowe as their debut artist.


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