E.G. Records

Virgin EG Records (formerly E.G. Records until 1991) was a British artist management company and independent record label, mostly active during the 1970s and 1980s. Its initials stood for founders David Enthoven and John Gaydon, who began by managing King Crimson in early 1969 before expanding into record label and music publishing. The label distributed in the UK through Island Records until 1974, then Polydor Records, and placed artists on various US labels including Atlantic, Warner Bros., and Virgin. After major losses from Lloyd's of London investments and real estate ventures between 1988 and 1991, E.G. loaned £4 million to its directors' failing businesses, leading to unpaid royalties and extensive legal battles, most notably a 6½-year lawsuit by Robert Fripp from April 1991 to September 1997. The company was sold to Virgin Records in 1992 and absorbed into EMI after Virgin's sale in 1996.