
Pegasus Records was founded as a new imprint of B&C Records in 1971 and the progressive and folk artists that were still signed to B&C were moved over to the new label. Just after one short year Pegasus was shut down and it's remaining artist were moved to the new Mooncrest label. Only 14 LP's in total were released on Pegasus.
The label design changed from the beautiful winged horse that covered the entire Side One of all the early releases to a purple PEG logo design to reflect the catalogue prefix used by Pegasus.