Festival Records (Record Label)

Festival Records (later known as Festival Mushroom Records) was an Australian recording and publishing company founded in Sydney, Australia, in 1952 and operated until 2005.

Festival was a wholly owned subsidiary of News Limited from 1961 to 2005, and the company was successful for most of its 50-year life, despite the fact that as much as 90% of its annual profit was regularly siphoned off by Rupert Murdoch to subsidise his other media ventures.