In January 1974 English rock band Led Zeppelin negotiated the agreement with Atlantic Records to set up Swan Song Records. It was overseen by Led Zeppelin's manager Peter Grant and was a vehicle for the band to promote its own products as well as sign artists who found it difficult to win contracts with other major labels. The decision to launch the label came after Led Zeppelin's five-year contract with Atlantic Records expired at the end of 1973. Atlantic Records ultimately distributed the label's product.
Swan Song ceased operations in October 1983 due to the break-up of Led Zeppelin and Peter Grant's health problems. Today, the label is part of Warner Music Group, but used only for reissues of all the albums that were released by the label when it was active.