From Zappa Wiki Jawaka
When MGM Records neglected to exercise a contract option in 1968, FZ founded Bizarre Productions with manager Herb Cohen. This company mutated into Bizarre Records (with distribution taken care of by Warner Bros.' Reprise label) by October 1968. "Sister" label Straight Records was formed by FZ in the spring of 1969 to release material by slightly off-center artists, but these artists were not nearly as extreme as those on Bizarre (hence, the name "Straight" versus "Bizarre"). After Straight finished its independent run with Reprise and Warner Bros.-distributed stints, the DiscReet label was created in 1973.