4th & B'way Records (pronounced and spelled out completely as Fourth and Broadway Records in the UK) is a US-based subsidiary of Island Records that specialised in street-oriented music such as hip hop. Established in 1984, it was the flagship label of the Island Trading Company, the independent-distribution parent company of Island's other record labels that operated in the US. However, 4th & B'way was not distributed through major-label channels—the flagship Island label was distributed by Atlantic Records at that time—until the label and distribution company were acquired by PolyGram Records in 1989, when Island Trading became a unit of PolyGram Group Distribution and was renamed Independent Label Sales (ILS). It was also one of several US-based Island labels that were named after nearby New York City streets when Island's US headquarters were located at 14 East 4th Street in Manhattan, the same building that held the legendary East Village branch of Tower Records, and also nearby at 400 Lafayette Street. When Island moved its headquarters to the Worldwide Plaza Building at 825 8th Avenue in 1995, where PolyGram's US headquarters were also located, the empty 4th Street offices became the headquarters of V2 Records.