BTM Records was founded in 1974 by Miles Copeland, brother of The Police's Stewart Copeland. The company was set up as a management agency and record label, hence the name BTM for British Talent Management. BTM signed a number of progressive rock acts such as Renaissance and Curved Air.
In the summer of 1975, Copeland organised a multi-band tour of European music festivals, Star-Trucking, which featured several BTM bands as well as Soft Machine, the Mahavishnu Orchestra and Lou Reed. But Reed's failure to appear at any of the shows and a litany of logistical issues resulted in significant losses. In 1976, BTM had to close down.
Copeland moved on to manage his brother's band The Police, Wishbone Ash, and later the solo career of Sting. And he didn't give up on music publishing; in 1977 he founded Illegal Records, and two years later I.R.S. Records.