A 360 Shangri-La

Some big-time record company vets are back in the swing of things, forming an indie label called Shangri-La Music.

Jeff Ayeroff, former co-chairman of Virgin Records America and vice chair of Warner Bros. Records, has formed the label with Jon Rubin, his partner in Rock The Vote. The label is an extension of Shangri-La Entertainment, owned by millionaire Steve Bing.

The first releases include the soundtrack from The Rolling Stones’ concert film "Shine A Light" and The Duke Spirit’s Neptune. A debut CD from Trevor Menear is due later this year as well as a release from Parisian rock quartet Neimo, according to a statement.

The label was the recipient of a Los Angeles Times feature, which stressed the three-act label will have 360 deals exclusively. Unlike the Madonna-Live Nation model, Shangri-La is exploring uncharted territory by making such deals with untested newcomers.

"While we don’t supplant a manager, we have to think like one while also thinking like a record label," Ayeroff told the Times. "We have a vested interest in developing a brand. It’s the idea of helping someone create an aesthetic identity that’s memorable, desirable, seductive."

The Duke Spirit is a London-based band that had a ballyhooed debut on Polydor in 2006. But the band grew disheartened with the label’s lack of support, including when it failed to distribute the CD in cities where the band toured, singer Liela Moss told the paper.