Republic Records is a New York City–based American record label owned by Universal Music Group (UMG). It was founded by Avery Lipman and Monte Lipman as an independent label in 1995, and was acquired by UMG in 2000. Republic was initially an imprint of the Universal/Motown Records Group, and was renamed Universal Republic Records after a reorganization in 2006 before going back to its original name in 2012. History Foundation and Universal Records: 1994–2005 According to Avery Lipman, he and his brother Monte conceived the idea for Republic Records at their apartment in New York. Lipman stated that both had previously been employed by record companies and were in between jobs at the time. They began putting records out as a hobby, the first of which was the Bloodhound Gang's Dingleberry Haze. Republic Records was formed in 1995 as a subsidiary of MCA's Geffen Records, but soon after its foundation, the distribution changed to the newly established Universal Records. In January 2000, it was announced that the Universal Music Group acquired the Lipman brothers' Republic Records as a wholly owned subsidiary. Monte Lipman was named president of the Universal Records label, while Avery Lipman became Republic's president. Universal Republic Records: 2006–2012 In 2006, corporate restructuring saw the formation of Universal Republic Records through a merger between the two labels. Monte Lipman became the president and CEO of the restructured label while Avery Lipman served as co-president and COO. Other changes were made at the label's parent, Universal Motown Republic Group, during the summer of 2011. Universal Motown Records was shut down, transferring its artists to the newly recreated Motown Records or Universal Republic Records. Universal Republic Records became a stand-alone label and the Universal Motown Republic Group was shut down. In August 2011, the restructured Universal Republic signed Ariana Grande to a record contract. Republic Records revival: 2012–present In October 2012, Universal Republic Records returned to the Republic Records moniker. Just prior to the label's return to the Republic name, it signed Canadian artist, The Weeknd, through his imprint label, XO. In addition to artists' albums, the label has released soundtracks with the Fox Broadcasting Company (Star), NBC (The Voice), and former UMG parent Universal Pictures (Fifty Shades and Sing), among numerous other partnerships, films, and television series. Republic Records had songs in six of the top-10 spots on the Mediabase Top 40 Chart in 2015, tying a 2013 record.