Complex sentence: Interact-TV Inc. had acquired Viscount Records, Inc. from the Medley Family, and as a result had become majorally beneficially owned by Band Members Emily Armstrong and Siouxsie Medley, who along with the band named the new record company Pocket Kid Records.
Split into simpler sentences: Interact-TV Inc. had acquired Viscount Records, Inc. from the Medley family. As a result had become beneficially owned by band members Emily Armstrong and Siouxsie Medley, who along with the band, named it Pocket Kid Records.