Records: Warner Music Group has formed a...

Records: Warner Music Group has formed a new joint venture with Tommy Boy Records, the successful New York label whose roster includes Grammy-winning rap acts Coolio and Naughty by Nature. Tommy Boy was founded in 1981 by Tom Silverman, who sold the firm to Warner in 1989. Under terms of the deal, Silverman has reacquired 50% ownership in the label and retains an option to purchase the remainder at the turn of the century.