It was run by entrepreneurs Bill Beasley and Alan Bubis. The records they produced were sold via convenience stores throughout the United States. Prior to HIT, they started Tennessee Records in 1950 and the Republic label in 1952. With the competition they didn't do well. In 1959, they took advantage of buying up overstocked hits and low prices and selling them cheaply via the racks throughout the country. Then with Hit Records which they formed, they added their own twin side records to the mix. At 39¢, the records were less than half the price of the hit recordings they were covering. The label was located in Nashville, the home base for the country music recording business in the United States. The company folded in 1969 due to competition from record companies such as K-Tel which issued various artistscompilation albums featuring the actual hit recordings licensed from the various record companies. Many Hit Records are very collectable and some of the performers on these recordings have developed their own fan base.. There was also an outfit called Hit Records Inc. in Chicago which had been in business since about 1957. With around 600 outlets, they sold their releases via racks in supermarkets and businesses which included Jewel Food and Osko Drugstores in the greater Chicago area. This company was owned and managed by Charles Stephens.
Business history
In 1965, legal action was taken against director Beasley and Record Service by Harry Fox Office who were represented by Abeles & Clark, a law firm. This was for royalties relating to recordings on a Hit record album, namely 26 Top Hits. Harry Fox Office won the case and the sum of $37,000 was awarded to them. The money was paid by Record Service, the owner of Hit Records.
Artists
The company had a pool of talented singers and musicians to record the cover songs. Some of these performers would later become successful on their own such as Sandy Posey, Ray Stevens, Bobby RussellSam Moore of Sam & Dave.. Leroy Jones was a made up name for singer Herbert Hunter. He had recorded under his own name as well. He was prolific on the Hit label.
