McCoury Music was formed to release the recordings of bluegrass superstar Del McCoury when he left Rounder Records in 2003. They are also set to release the new CD from Larry Sparks, The Last Suit You Wear, tomorrow (5/1), and will release an acoustic project from Merle Haggard later this year.
RED is owned by Sony/BMG, and is considered to be the dominant distributor in the US for independent labels. Formed initially to distribute the recordings of smaller, independent heavy metal labels in 1979, but have since expanded to include music from a great many popular genres.
McCoury Music seems to be their first truly bluegrass label, though they also distribute the projects from SCI Fidelity, the String Cheese Incident label that has expanded to include several other artists as well.