Complex sentence: The imprint Tommy Boy Gospel was launched in 1998 under the direction of Max Siegel and Marvie Wright--and Tommy Boy Black Label (specializing in underground hip hop music) and Tommy Boy Silver Label (specializing in dance music) were founded as well.
Split into simpler sentences: The imprint Tommy Boy Gospel was launched in 1998 under the direction of Max Siegel and Marvie Wright. The same year, Tommy Boy Black Label (specializing in underground hip hop music) and Tommy Boy Silver Label (specializing in dance music) were founded as well.