When was the record company Virgin Records founded?

Explanation

Virgin Records is a British record label founded by Richard Branson and Nik Powell in 1972. Originally, the two had a small record shop in Notting Hill, London. The name was chosen because they were virgins to the business. The label was bought by EMI in 1992 but still functions independently. Virgin Records has many big names such as Korn, The Rolling Stones, The Smashing Pumpkins, We Are Scientists, Bubba Sparxxx, Meat Loaf and Sex Pistols.