[5] Walden and Frank Fenter approached Vice President of Atlantic Records Jerry Wexler about funding the project.

[9] The Capricorn Rhythm Section provided a distinctive full-band sound to artists or on tracks needing accompaniment.

[7] Often referred to as CRS, the studio band members were drummer Johnny Sandlin, keyboardist Paul Hornsby, guitarist Pete Carr, and bassist Robert “Pops” Powell.

Though the Allman Brothers' 1969 self-titled first release wasn't a best-seller, critics praised the effort for its mixing of country, jazz, blues, and rock genres.

[12] When renegotiations were unsuccessful, PolyGram filed a lawsuit[11] seeking all label and studio assets as collateral on a $5 million loan[13] made to the company in 1977.

[12] At this point, many artists terminated their contracts with Capricorn including Sea Level, Stillwater, and Dixie Dregs[14] and the Allman Brothers filed suit to stop the release of a greatest hits album.

[16] In January, 1983, Walden and Fenter restructured their business partnership and announced that Capricorn was releasing its first record in three years with the CBS Columbia Label album Sweet Young Thing by Rick Christian.

Fenter made an attempt in July 1983 to revive the label, but that effort dissolved when he had a heart attack in the midst of completing negotiations with Warner Bros. Records and died at 47.

[18] The label relaunched in Nashville, Tennessee as a joint venture with Warner Brothers, this time through the partnership of Walden and his son.

[28] In 2015, a multi-million dollar renovation project through a partnership between Mercer University, NewTown Macon, Sierra Development, and Southern Pines Plantations announced plans to fully restoring the original studio space, early plans included a large recording studio for film score and orchestral recordings, a Capricorn museum, and loft apartments on the upper floors.

The southern city had gained notoriety as having a vibrant music scene, keeping small venues like Grant's Lounge, historic halls like the Grand Opera House and the Macon City Auditorium, and large venues like the Macon Coliseum filled with internationally known acts and up-and-coming talent.

[33] Further putting Macon and Capricorn Records in the spotlight was Phil Walden's involvement in the 1976 presidential campaign of then Georgia governor Jimmy Carter.

[35] Notable attendees throughout the years included Carter, Don King, Bette Midler, and Andy Warhol.

[5] Internationally, a special production of the Old Grey Whistle Test called "Macon Whoopee" featured performances by the Marshall Tucker Band, Wet Willie, Bonnie Bramlett, Stillwater, and others.