Editing Elektra Records (section)

===1971–1989: Elektra/Asylum Records===
Elektra, along with its [[Nonesuch Records]] subsidiary, was acquired by [[Kinney National Company|Kinney National Services]] in 1970, which changed its name to [[Warner Communications]] in 1972.<ref name="CNNHistory"/> Soon afterwards, Kinney consolidated their label holdings under the [[Warner Music Group|Warner-Elektra-Atlantic]] umbrella. Holzman remained in charge of Elektra until 1972, when it merged with [[Asylum Records]] to become Elektra/Asylum Records;<ref name="Larkin50"/> Asylum's founder, [[David Geffen]], headed the newly combined label.<ref name="CNNHistory"/> Holzman, in the meantime, was appointed senior vice president and chief technologist for Warner — ushering the company into home video and the first interactive cable system. Holzman also went on to acquire [[Discovery Records]]. In 1975, Geffen stepped down when he was told that he had a terminal illness;<ref>Tom King, ''The Operator: David Geffen Builds, Buys, and Sells the New Hollywood'', p. 282, Broadway Books (New York 2001).</ref> He later was revealed to have been falsely diagnosed. He was replaced by Joe Smith, who later went on to become CEO of [[Capitol Records]].

Joe Smith, whose leadership resulted in the biggest market share and gross revenues Elektra Asylum was to have, inherited the A&R services of [[Chuck Plotkin]], famed later for producing many of Bruce Springsteen's greatest records, followed up by [[George Daly (music executive)|George Daly]], who is credited as bringing in seminal [[New wave music|new wave]] band [[The Cars]], setting Elektra, again, on another artist direction.

Although the label was technically listed as "Elektra/Asylum Records" on the label credits, as the years went on, the label began to unofficially call itself Elektra Records again (with Asylum operating as a subsidiary label). In 1982, Elektra launched a jazz subsidiary called [[Elektra/Musician]]. The following year, [[Bob Krasnow]] became president and CEO of Elektra; under his leadership, the label reached its commercial peak throughout the rest of the 1980s and early to mid-1990s.