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Roger Shepherd reclaims Flying Nun
From Radioscope: "Flying Nun Records is in for a new lease on life, back under the wing of founder Roger Shepherd thanks to a deal announced yesterday.

Part of the Warner Music group for the last five years, following the Warner takeover of Festival Mushroom Records in 2005, Flying Nun will once again be Shepherd's baby. The label will continue its association with Warners however as the physical and digital distribution partner for the label's catalogue and future releases.

Shepherd says it is a privilege and pleasure to once again be heading Flying Nun Records. "While the historic catalog will be maintained and promoted, the label will continue to promote new and innovative New Zealand music."

Edit: This is from Billboard: "... Flying Nun relocated to Auckland in 1988. Its status as an "independent" began to fade in 1990 when Australia's Mushroom Records took a 49% stake in the business. Shepherd cut his ties with the business in 1999. The following year, it was fully absorbed into the merged Festival Mushroom Records (FMR) operation. In 2005, Warner Music acquired the imprint as part of its purchase of FMR."