Universal Records: 2000-2005
Universal Music Group acquired the Lipman brothers' Republic Records as a fully owned subsidiary in 2000, and named Monte Lipman as President of the newly established Universal Records label, and Avery Lipman the COO; both reporting to Doug Morris (Chairman of Universal Music Group), and Mel Lewinter, (Chairman of Universal Records Group). During their tenure, the Lipmans shaped the newly formed company into an industry leader with such acts as Nelly, Lil’ Wayne, Elton John, and co-ventures with Cash Money Records, Master P’s No Limit Records, and Sean “Puffy” Combs (Bad Boy Records).
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