Fact #184416
When:
Short story:
Immediate Records, formed in 1965 by Rolling Stones' manager Andrew Loog Oldham, goes into liquidation.
Full article:
Peter Frampton (guitar/vocals, Humble Pie) : Immediate Records went bust. Andrew Oldham, he’s the original manager of the Rolling Stones, was our manager and he had his management and record company called Immediate, who had Chris Farlowe and the Thunderbirds. I mean, he had some fantastic acts. The McCoys, Hang On Sloopy, he signed as well for England
That’s when Andrew Oldham said, “This is what you’ve got to ask for. Go to all the major labels. Go to Warner Brothers, go to Atlantic, go to A + M, and we decided to go with A + M. They offered us more money, I’ll be very honest. And Ahmet (Ahmet Ertegun of Warners) got back on a plane and thought he had us signed. But, the following day we met with A + M and they offered us more money than I could ever say, for that period, anyway. It was four hundred thousand dollars for a four-year contract, you know, which was unheard of in those days.
So, each one of us got a hundred thousand dollars, because recording costs were on top of that. So yeah, I bought my first Aston Martin with that one, boy! But, we all bought houses. You know, it was a wonderful, secure feeling. Offshore companies, the whole bit and everything. Jerry Moss of A + M said, “If I sign you, you must use Glyn. I want you to use Glyn Johns.”
I mean, he’d done the first Zeppelin record, all the Stones records, the first Eagles record. Need I go on, you know? So, we said, “No problem!”
(Source : interview with Steven Rosen, Modern Guitars, November 1, 2008)
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That’s when Andrew Oldham said, “This is what you’ve got to ask for. Go to all the major labels. Go to Warner Brothers, go to Atlantic, go to A + M, and we decided to go with A + M. They offered us more money, I’ll be very honest. And Ahmet (Ahmet Ertegun of Warners) got back on a plane and thought he had us signed. But, the following day we met with A + M and they offered us more money than I could ever say, for that period, anyway. It was four hundred thousand dollars for a four-year contract, you know, which was unheard of in those days.
So, each one of us got a hundred thousand dollars, because recording costs were on top of that. So yeah, I bought my first Aston Martin with that one, boy! But, we all bought houses. You know, it was a wonderful, secure feeling. Offshore companies, the whole bit and everything. Jerry Moss of A + M said, “If I sign you, you must use Glyn. I want you to use Glyn Johns.”
I mean, he’d done the first Zeppelin record, all the Stones records, the first Eagles record. Need I go on, you know? So, we said, “No problem!”
(Source : interview with Steven Rosen, Modern Guitars, November 1, 2008)