M&G Records was a record label founded by Michael Levy after he sold his previous label Magnet Records in 1988 to WEA for an estimated £10 million.[1]
After Magnet was sold and was then merged into Eastwest Records in the UK, Levy set up M&G Records with backing from Polygram. The name "M&G Records" was derived from the initials of both Levy's first name and that of his wife Gilda.[1] M&G was sold in October 1997 for an undisclosed sum and folded into the main Polydor Records label.[2] Its most successful act was "Sunshine on a Rainy Day" singer Zoe.[2] Other acts included Little Axe,[2] Jai,[3] Raw Stylus,[2] and "Fair Blows the Wind for France" band Pele.[4]
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