As far as I know, New Jazz was a subsidiary of Prestige and most/many of their records were reissued on Prestige. But, hellyeah: don't forget it, they had some great stuff (like Dolphy, Waldron, Carter, etc. etc.)
ubu
Not only was New Jazz part of Prestige, it preceeded it. From the first session on Jan 11, 1949 (Konitz/Tristano), through November '49 (Wardell), all issues were on New Jazz. The Prestige label was introduced for the Stitt/Bud Powell sides of Dec. 11, 1949.