Irwin Steinberg, co-founder of Mercury Records, has died at the age of 94. Publicist Scott Gorenstein confirmed that he died on December 29 at his home in Brattleboro, Vermont.

Steinberg co-founded the Universal label in 1945 in Chicago, before moving on to become chairman and CEO of Polygram Records, a label he would remain affiliated with for 30 years.

After retiring from Polygram, he taught courses on the music business for Columbia College of the Arts in Chicago and was known as an innovator in the digital music industry, consulting for enterprises such as MusicMaker.

A Chicago native, Steinberg graduated from the University of Chicago and served in the Air Corps before joining the music business. He is survived by his wife, Dominique Moyse, three children, four grandchildren and two sisters.