Grammy-winning producers the Neptunes (Pharrell Williams and Chad Hugo) have found a new home for their Star Trak label, whose roster has been home to the Clipse, Kelis, Rosco P. Coldchain and High Speed Scene. The duo are in the process of signing a three-year deal with Interscope Records worth about $3 million, according to sources.
Star Trak previously had a deal with Arista Records, which the Neptunes signed two years ago with then-Arista chief Antonio "L.A." Reid. That deal has since expired, and Reid was named chairman of Interscope's sister company Island Def Jam Music Group last month.
Under the deal, Williams and Hugo will produce artists signed to Star Trak and Interscope and its affiliates. They also will develop new artists. Interscope will assume marketing, promotion, sales and distribution for Star Trak. However, the Clipse and Kelis are understood to be staying behind as part of the newly formed Zomba Label Group as part of a massive restructuring at BMG North America.
The Neptunes have become ubiquitous in recent years for their collaborations with such artists as Justin Timberlake, Snoop Dogg, Britney Spears, Busta Rhymes, Jay-Z, Ol' Dirty Bastard and Nelly.
Williams and Hugo's rock/rap group, N*E*R*D, yesterday (March 23) released its second Virgin album, "Fly or Die."
A representative for Universal Music Group and Interscope could not be reached for comment at deadline.
Star Trak previously had a deal with Arista Records, which the Neptunes signed two years ago with then-Arista chief Antonio "L.A." Reid. That deal has since expired, and Reid was named chairman of Interscope's sister company Island Def Jam Music Group last month.
Under the deal, Williams and Hugo will produce artists signed to Star Trak and Interscope and its affiliates. They also will develop new artists. Interscope will assume marketing, promotion, sales and distribution for Star Trak. However, the Clipse and Kelis are understood to be staying behind as part of the newly formed Zomba Label Group as part of a massive restructuring at BMG North America.
The Neptunes have become ubiquitous in recent years for their collaborations with such artists as Justin Timberlake, Snoop Dogg, Britney Spears, Busta Rhymes, Jay-Z, Ol' Dirty Bastard and Nelly.
Williams and Hugo's rock/rap group, N*E*R*D, yesterday (March 23) released its second Virgin album, "Fly or Die."
A representative for Universal Music Group and Interscope could not be reached for comment at deadline.
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