Ivo Watts-Russell

Kent left 4AD in 1980 to set up the Beggars-funded and owned Situation Two. In 1999, Watts-Russell sold his share in 4AD to the Beggars Group (a conglomeration of labels borne out of Beggars Banquet, and including Mo'Wax, Matador, XL and Too Pure), to give himself time to further his interests in book publishing.