New label forms in Nashville

Industry veteran John Grady announced the formation of I.R.S. Nashville, a record label, that has one new band on the label (Striking Matches) and will also release the last recording of the late Cowboy Jack Clement, who died in August.

The label is a joint venture of Universal Music and Crush Management Nashville, which Grady co-owns.

The new label is related to I.R.S. Records, the alt-rock band and home to such bands as The Police, R.E.M. and The Go Go's. Universal revived I.R.S. in 2012.

Grady told The Tennessean that the idea for the label came from Capitol Music Group Chairman and CEO Steve Barnett. "They want a chance to work with those bands, so their records don't escape Nashville - so these records don't have to go out of town to be released," Grady told the paper.

"I'm looking for new artists every day," Grady said. "That's predominantly what it will be. There's room in it for records, if the right record comes along and we find a joint interest like this Cowboy Jack record, to me that's perfect."

Clement recorded a disc with T Bone Burnett and David Ferguson last year, Grady said. The music may come out early in 2014.

Grady helped forge the careers of Gretchen Wilson and Miranda Lambert.

Striking Matches is former Belmont University students Sarah Zimmerman and Justin Davis, who have had songs on the TV show "Nashville."