Complex sentence: CBS only had the rights to the Columbia name in North America; therefore the international arm founded in 1961 and launched in 1962 utilized the "CBS Records" name only, with Philips Records distributing the label in Europe.
Split into simpler sentences: CBS only had the rights to the Columbia name in North America. Therefore the international arm founded in 1961 and launched in 1962 utilized the "CBS Records" name only with Philips Records distributing the label in Europe.