Editing Asylum Records (section)

===Formation===
[[Image:Asylum Records logo.jpg|thumb|Original logo]]
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 music|folk]]/[[rock music|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.<ref>Mark Bego, ''Joni Mitchell'' (Lanham, MD, 2005, {{ISBN|978-1-58979-134-3}}), p. 106.</ref>

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.<ref name=googlebooks>{{cite book|last=Kort|first=Michele|title=Soul Picnic: The Music and Passion of Laura Nyro|url=https://books.google.com/books?id=vE8IsMvxqe0C&q=%22david+geffen%22+%22laura+nyro%22+asylum&pg=PA150|access-date=November 24, 2012|isbn=9780312303181|date=2003-05-14}}</ref><ref name=PBS>{{cite web|last=Lacy|first=Susan|title=American Masters|url=https://www.pbs.org/wnet/americanmasters/episodes/david-geffen/film-inventing-david-geffen/2361/|work=Inventing David Geffen|date=7 November 2012|publisher=PBS|access-date=November 24, 2012}}</ref> Nyro initially agreed, but without Geffen's knowledge she changed her mind and re-signed with [[Columbia Records]].<ref name=googlebooks/><ref name=PBS/> Geffen said it was the biggest betrayal of his life up to that point and that he "cried for days".<ref name=PBS/><ref name=bostonglobe>{{cite news|last=Gilbert|first=Matthew|title='American Masters' profiles mogul David Geffen|url=https://www.bostonglobe.com/arts/television/2012/11/20/david-geffen-from-mailroom-mogul/upFcS4Fm2ml0ORhpIw1XlK/story.html|newspaper=The Boston Globe|date=November 20, 2012}}</ref><ref>{{cite news|last=Gay|first=Verne|title='American Masters: Inventing David Geffen' review|url=https://www.newsday.com/entertainment/tv/american-masters-inventing-david-geffen-review-1.4231026|newspaper=Newsday|date=November 19, 2012}}</ref>

Asylum's early releases were distributed by Atlantic Records. The same year, Asylum signed [[Jo Jo Gunne]], [[Linda Ronstadt]], [[JD Souther|John David Souther]], [[Judee Sill]], [[David Blue (musician)|David Blue]], [[Joni Mitchell]] and [[Glenn Frey]] (whom Geffen encouraged to form the [[Eagles (band)|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 (album)|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 (album)|Before the Flood]]'', for Asylum before returning to Columbia. Columbia reissued Dylan's two Asylum albums in 1981.