Universal Island Records Ltd. Label | Releases | Discogs Legal name: Universal-Island Records Limited UK based record company associated with the Island Records label. Operating under this name from 29 March 1999 until 25 June 2014. The company was formed following the acquisition of Polygram N.V. (the former owner of Island Records Ltd.) on 10 December 1998 by "The Seagram Company Ltd." whom already ...