Asylum Records is an American record label, founded in 1971 by David Geffen and partner Elliot Roberts. It was taken over by Warner Communications (now the Warner Music Group) in 1972, and later merged with Elektra Records to become Elektra/Asylum Records. After previous incarnations, it is geared primarily towards hip-hop, along with rock and alternative metal. It is owned and distributed by Warner Music Group. History Formation Asylum was founded in 1971 by David Geffen, and partner Elliot Roberts, both of whom had previously worked as agents at the William Morris Agency, and operated a folk/rock label. They had also previously founded their own management company. While unsuccessfully pitching a recording contract for their client Jackson Browne to Atlantic Records president Ahmet Ertegun, Geffen said, "You'll make a lot of money." Ertegun replied, "You know what, David, I have a lot of money. Why don't you start a record company and then you'll have a lot of money." A deal was then struck in which Ertegun would put up the initial funds, Atlantic Records would distribute Asylum Records, and the profits would be split 50/50. Although they knew they would sign Browne, the first act that Geffen asked to join the label was his close friend Laura Nyro, whose career he was managing at the time. Nyro initially agreed, but without Geffen's knowledge she changed her mind and re-signed with Columbia Records. Geffen said it was the biggest betrayal of his life up to that point and that he "cried for days". Asylum's early releases were distributed by Atlantic Records. The same year, Asylum signed Jo Jo Gunne, Linda Ronstadt, John David Souther, Judee Sill, David Blue, Joni Mitchell and Glenn Frey (whom Geffen encouraged to form the Eagles, with Don Henley, Bernie Leadon, and Randy Meisner). In 1972, then folk-based singer/songwriter Tom Waits signed with the label, releasing his debut, Closing Time, in 1973. His seventh and final album for the label, Heartattack and Vine, was released in 1980. Former Creedence Clearwater Revival frontman John Fogerty signed with the label in 1974. The biggest coup for Asylum was signing Bob Dylan, who had been with Columbia Records since the early 1960s but who, after a falling-out with the company, was shopping around for a new label. Dylan recorded two albums, Planet Waves and the live Before the Flood, for Asylum before returning to Columbia. Columbia reissued Dylan's two Asylum