Immediate Records
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Immediate Records was a British record label, started in 1965 by Rolling Stones manager Andrew Loog Oldham, concentrating on the London based British blues and R&B scene. Acts included P.P. Arnold, John Mayall, Savoy Brown, The Small Faces, The Move, The Nice, Fleetwood Mac, The Groundhogs, Chris Farlowe and Humble Pie.
Due to financial problems the label stopped in 1970 and it has been the subject of controversy ever since. This is especially true in regard to unpaid royalties owing to the famed UK Mod band The Small Faces, who made numerous hit recordings for the label between 1966 and 1969. Despite many hits, the band received virtually no income from these often re-released records until legal action finally secured payments from the present licencees in the early 2000s.
According to Small Faces drummer Kenney Jones, most of Immediate's assets and income were embezzled by one of the company's senior partners, who allegedly channeled the funds to offshore bank accounts.