WILL DREAMWORKS AT INTERSCOPE?

DreamWorks Records will officially close its doors today, to be folded into UMG's Interscope Group beginning Monday.

As reported, veteran industry exec Polly Anthony, who left her post as Epic Records President last September, is expected to be named head of the label within the next two months (see hitsdailydouble.com, 9/12/03).

The label is cutting loose most of its contract employees, with another round of layoffs expected once DreamWorks is within the Universal family.

Universal will retain about 10 of the label’s A&R executives with the intention of letting the imprint continue to sign the types of singer-songwriter acts for which it has become known, like Nelly Furtado and Rufus Wainwright. The label also houses successful rockers such as Alien Ant Farm, Papa Roach, All-American Rejects, A.F.I. and Jimmy Eat World.

DreamWorks Nashville, home of country superstars Toby Keith and Darryl Worley, is expected to remain intact.

Mo Ostin, Lenny Waronker and Michael Ostin headed DreamWorks Records from its inception in October 1995 until Universal's purchase of the label late last year for reportedly less than $100 million.

Universal previously absorbed much of MCA Records’ roster, which included Mary J. Blige and Blink-182, into Interscope-Geffen. Like MCA, it is expected the DreamWorks roster will be trimmed as well.