Island was bought by Mercury/Polygram, hence why the older prints said Megaforce/Island/Polygram. They went to Elektra for SOWN (at which time Island put out Live the Island Years), and 442, they were dropped, put out Volume 8 on a subsidiary of tom boy, that label folded, they went to BMG/Beyond to put out Killer A's, Beyond folded, and they went to Sanctuary.
In the process Island became Island/Def Jam, then Def Jam, then when Universal finally merged all the back catelogue under the Universal name. That's how they got there, and I doubt they would ever go back. Unfortunately unless you're L.O.A. who is still relatively young, most metal bands don't get a second chance with a big label, that's why they all go to Sanctuary, Spitfire, etc.