Complex sentence: People was acquired by Polydor on July 1,1971 when Brown signed with that label and folded in 1976, concomitant with the dissolution of the J.B. 's.
Split into simpler sentences: People was acquired by Polydor on July 1,1971 when Brown signed with that label. It folded in 1976, concomitant with the dissolution of the J.B. 's.