NEW YORK – Agreement has been reached for CBS Records International to represent TK Records as manufacturer and distributor throughout the world except for the U.S. and Puerto Rico. The deal, known to have been in the works for some time (Billboard Sept 10, 1977), is in the final stages of implementation principals of the two firms confirm. Both Dick Asher, President of CBS International, and Henry Stone, President of TK Records, said late last week that all that remains is for signatures to be affixed to the contract. The new arrangement replaces the deal under which TK was handled by RCA Records in foreign markets. That agreement expired Sept. 22
Henry Stone, President of TK Records, holds citation naming TK Disco Label of The Year. Standing next to him are Ray Caviano, TK promotion man, and Grace Jones.