Giovanni Di Stefano CEO MGM PYE PATHE RECORDS Bids for Mediterranean Island off Minorca, Ille de Colom

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Chairman and CEO of record label MGM PYE PATHE RECORDS, Giovanni Di Stefano, opened the bidding for a small island off the Menorca, Spanish coast today the Ille De Colom. He wants to turn the island into a recording base for artists with his label.

Technically the investment into buying this island and creating our recording base can be recouped with one hit record. Put it that way and its no longer a gamble but a wise deal.

Giovanni Di Stefano the Chairman and CEO of MGM-PYE-PATHE RECORDS has bid for the small island off Minorca called Ille De Colom. It is his intention to turn the island into what he calls a ‘major recording centre’ where artists can go and simply ‘make their records with peace of mind and full of inspiration.’

“It’s a stunning Mediterranean island just 200 metres off the coast of Menorca, and it’s just the ideal place for the ideal price for an ideal artist to record with privacy and peace of mind,” said Mr Di Stefano.

Forming part of the s’Albufera des Grau’s Natural Park, Ille d’en Colom is a 58 hectare islet near the beautiful north-easterly town of Es Grau, ten minutes from the capital of Mahon. It boasts two stunning beaches – the shallow waters at Tamarindos and the steeper incline at Arenal d’en Morro – and different landscapes with a sandy southern coastline and a contrasting rugged, northern area where cliffs sweep upwards and overlook the sea.

“Today artists want to record in a place that is warm, hospitable, easy to get to, and private and they need the peace of mind to get the best quality. It’s about inspiration and no greater place than this. Its why many record labels send their artists to the Caribbean Islands as far away from distraction as possible. This is the best solution as its warm and close to Europe,” stated Di Stefano.

The company plans a major recording studio centre and plans are already being drawn. Viktor Galliano has been commissioned to do what Di Stefano called ‘visionary and innovative’ images and furnishings including recording facilities, video stage, accommodations and a restaurant. Asked whether he would allow artists not with his record label to use the facilities Mr Di Stefano replied that it was a possibility but he wanted the island to be more for those that are with his label.

The company hopes to be successful in their bid, but Mr Di Stefano stated clearly that he would not go too much into a bidding war because the island required heavy investment which could, he confirmed, “technically be returned with one disc.”

The company is also pleased with the sales and the excellent response to the MGM PYE PATHE RECORDS INTERNATIONAL MUSIC AWARDS next year in San Marino which Di Stefano is looking at a window at returning San Marino to Eurovision.

"One thing for certain, it's a big guessing game as to who is going to receive the MGM PYE PATHE Lifetime Achievement Award. It will surprise all, even the person," said Di Stefano.

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GIOVANNI DI STEFANO
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