 After a decade of operating through Warner, when its contract with the company expired, the label was sold to MCA Music Entertainment (later renamed Universal Music Group) in 1990.The deal ultimately earned David Geffen an estimated US$800 million in stock (until the Japanese conglomerate, Matsushita Electric Industrial Co., Ltd.'s cash acquisition of MCA in 1991, made Geffen a billionaire) and an employment contract that ran until 1995.Following the sale, Geffen Records operated as one of MCA's leading independently managed labels.