Design: The new CBS logo appears four times on this strikingly-designed label, the effect perhaps meant to suggest a spinning record. The traditional positioning of elements has been completely ignored, and why not? The release date is also usefully noted: August 1958. Once again, the popular 1950s combination of burgundy and silver is used.
History: Columbia produced 78 rpm records until 1958 in the U.S. and to 1960 in Canada. Thanks for updated info to Marcus, who writes: "The seperation of American Columbia from British [UK] Columbia after the formation of EMI in 1931 made Columbia re-invent itself as Columbia Broadcasting System after the association with United Broadcasters radio and the name CBS used (call sign), so a new logo was launched, often called the 'walking eye,' which was adopted by the broadcasting division and TV etc. The logo is quite simply a graphic representation of a record and the 'legs' are in fact the stylus tip entering the groove! This label design took over in 1953 after the Columbia Inc. debacle with EMI, [when] Columbia Inc. went to Philips for UK and pan-Europe manufacture and distribution as a product of Philips Records, leaving Columbia-EMI the use of the name and the 'magic notes.' Until then (1953) American Columbia (Columbia Inc.) had used the co-shared and co-owned trademark double minim music note ('magic notes') as Columbia did in England. However, after 1931, American Columbia releases also used a drawing of a broadcasting mic with a CBS badge encased in a circle, interlinked with the 'magic notes' trade mark, also encased in a circle. Sony Corp. now exclusively has the global rights (all territories) to the use of the Columbia name and brands, both in music and film. [However] they do not own CBS TV or the Columbia brand or logo ('magic notes') in the UK, pan-Europe or Australia, as EMI still owns them. EMI has only leased the brand and exclusive rights to the use of the Columbia name to Sony. Sony has only recently (2009) started to use the 'magic notes' trademark here and there. The record and stylus logo 'walking eye' is used as and when. The global design is a red label with white text and the Columbia lettering on the label rims. The DB prefix letters are a take on decibels. The various early UK EMI 45 prefixes also were takes. Columbia was SCM (Seven Inch Columbia Microgroove), Parlophone MSP, HMV 7M etc."