A short-lived offshoot of B&C Records, intended for contemporary material, Pegasus started up in September 1971. Sadly, however, it soon ran into trademark problems, as the name 'Pegasus' had already been registered, by the Readers Digest company. 'Record Retailer' of the 19th of February 1972 said that RD used the Pegasus name when it issued its records, and that because of the clash all future B&C contemporary product would appear on the Peg (q.v.) label, as would any re-pressings of Pegasus product. As a result the rather distinctive-looking Pegasus label was abandoned. Peg numbering started where Pegasus left off, with singles continuing to use a PGS-0 series. Some Pegasus albums were indeed re-pressed on Peg, keeping the same catalogue number. The same happened to Nazareth's single 'Dear John' (PGS-2); for some reason the title of the song on the 'B' side was changed from 'Friends' to 'Occasional Failure'. In 1973 Peg and the B&C label itself were superseded by Mooncrest (q.v.), which led to several popular albums that had previously appeared on Pegasus and Peg coming out again, on Mooncrest. Pressing was by EMI, and demos were marked in the usual EMI style (2). According to an advert in 'RR' for the 16th of October 1971, Pegasus records were distributed by EMI and Island, which seems to have been the norm for B&C labels; EMI appears to have been responsible for supplying those customers which Island didn't normally cover. Sadly the multicoloured label which was used for LPs only appeared on one 7" record, a promotional flexi-disc featuring excerpts from the first four albums (3), which I've included here for the sake of interest.
Copyright 2006 Robert Lyons.