Red Bull Records is shutting down after nearly two decades, Billboard has confirmed.

“After 18 years of operation, Red Bull Records globally will be winding down by the close of the year,” a Red Bull spokesperson tells Billboard. The news was first reported by Hits Daily Double.

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Launched in 2007 by Red Bull energy drink founder Dietrich Mateschitz and operating out of offices in Los Angeles and London, Red Bull Records was led by managing director Greg Hammer and distributed

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