Label founders quit after 17 years...

Oasis are staying with Creation, but Alan McGee and partner Dick Green are leaving the label they founded 17 years ago.

A shock statement from Creation Records issued at 11.30 pm GMT today has confirmed that co-founders Alan McGee and Dick Green are to leave the label in June 2000 to pursue a number of new ventures.

Creation Records has been our life for 17 years. We started the company from nothing, but it’s the end of an era,” McGee said today. “It’s the end of a decade, a new millennium and life begins at 40. I feel like trying my hand at some new things. I still intend to be involved in music but there are other areas that I am keen to investigate. Dick and I would like to thank all of our staff past and present, and the artists of course, for making Creation Records what it is and hopefully we’ll be remembered as one of the great British independent labels.”

Creation signed a deal with Sony Music Entertainment seven years ago and the details of the company’s future are still being worked out. Creation may continue as an imprint on Sony, or the label and its roster may be absorbed and distributed amongst other Sony labels.

A further statement from Oasis‘ management will be issued later today that will clear up confusion surrounding the band’s position.

Can the label that brought us My Bloody Valentine, Jesus & Mary Chain and Primal Scream (and Oasis) survive without McGee at the helm? Tell us what you think. Post a message on angst!