The US operations have also taken on the name Virgin Records. Virgin Classics was founded in as part of Virgin Records. But the terms of the European Commission 's approval of the takeover required divestment of the two classical labels. Accordingly, both were sold in February the following year to Warner Music Group , and this transaction was approved by the European Union that May. Branson and Powell had initially run a small record shop called Virgin Records and Tapes on Notting Hill Gate , London, specializing in krautrock imports, and offering bean bags and free vegetarian food for the benefit of customers listening to the music on offer. After making the shop into a success, they turned their business into a fully fledged record label.
Folkways Records was founded in Led by Moses Asch , Folkways sought to document the entire world of sound. The 2, titles Asch released on Folkways include traditional and contemporary music from around the world, spoken word in many languages, and documentary recordings of individuals, communities, and current events. Folkways grew to be one of the largest and most influential record companies in the world. Folkways Records and the label's business papers and files were acquired by the Smithsonian Institution in Every recording is kept in print. A few recordings from Folkways Records.