Lookout! Records purchased and is now taking over operations of Panic Button Records. This is far from a hostile takeover, as the Lookout Website explains: "Basically, John Jughead and Ben Weasel started Panic Button in 1997 with the release of "Major Label Debut" and went on to develop a strong pop-punk label. From the beginning, Panic Button releases were co-released by Lookout! so we know what they're all about. You'd have to talk to Ben and John about the specific reasons that they didn't want to continue operating the label themselves, but I can tell you that running a small punk rock record label is no easy business. While they are going to get the necessary break they deserve, Ben and John will continue to be a part of Panic Button's A&R and the spirit of what they've created will live on. We've always felt that Panic Button bands are part of the Lookout! family.Source: Lookout! Records