Lily Allen Starts New Label With Sony Music

First release will be debut by Brooklyn band Cults

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Lily Allen is set to launch her own record label — "In the Name Of" — with financial backing from Sony Music. Allen's imprint will release its first record, the debut album by the Brooklyn art pop band Cults, later this year.

Photos: Lily Allen Knocks 'Em Out

While it had been known for some time that Cults had signed to an imprint of Sony's Columbia Records, Allen's representatives confirmed yesterday that she is in charge of the label and responsible for signing the group.

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As it turns out, Allen was pursued by several record companies to open her boutique label. Sony Music won the bidding war and will reportedly pay the singer a £100,000 salary for running the imprint.

Lily Allen launches own record label [Guardian UK]