 Capricorn Records would have loosely held subsidiary companies that encompassed all facets of the music business, including artist management, with Phil Walden and Associates; a booking agency, the Paragon Agency; a music publishing house, No Exit Music; and artist merchandising, with the Great Southern Company.Frank Fenter took the helm of Capricorn Records while Phil Walden focused on artist management where they together pioneered and popularized the music genre known as Southern Rock.At the height of Capricorn Record's success, Fortune magazine, the business periodical, went on to recognize Fenter as a "Promotional Genius".