Interscope Geffen A&M Acquires Full Ownership of Label Home to Maroon 5

Maroon 5

The A&M/Octone joint venture, of which IGA owned 50 percent, was formed in 2007 and scheduled to conclude in mid-2014.

Universal Music Group label Interscope Geffen A&M has acquired the remaining 50 percent share of the joint venture A&M/Octone.

With Maroon 5 as its flagship group, the arrangement was formed in 2007 and scheduled to conclude in mid-2014. Other artists signed to the Octone roster include rock band Flyleaf and hip-hop artist K'Naan. The label was headed was CEO and president James Diener.

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"James and everyone at A&M/Octone created a fantastic home for their artists, and their commitment to that roster has been unparalleled," said Interscope Geffen A&M president and COO John Janick in a statement.

Added Diener: "On behalf of the entire A&M/Octone executive team, I want to extend sincere thanks to Jimmy Iovine, John Janick and Interscope Geffen A&M for an incredible partnership over the past 6 years. We are also indebted to Lucian Grainge and the worldwide Universal Music family, who took exceptional care of our artists and projects throughout the relationship."