Warner Music Group has acquired 300 Entertainment, the independent music entity comprised of headliners, Young Thug and his label Young Stoner Life (YSL), Megan Thee Stallion, and many more.
300 co-founder and CEO Kevin Liles considers Warner to be the perfect home for his artists and team. The acquisition is a new opportunity to invest in the growth and impact of the brand. As a part of the deal, the enterprise will also be able to maintain its independence and remain at its headquarters in New York.”Independence is in our DNA and the team at Warner is like family, which makes this a natural evolution for us to do our bigger family business,” Liles told Variety. With a relationship that has already been established over the years, co-founder Lyor Cohen, assures that this is a monumental move, “wonderful to see a good idea realized. 300 is a way of life and is in very good hands.”
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300 was founded in 2012 by Liles, Lyor Cohen, Roger Gold, and Todd Moscowitz. Since its launch, Atlantic Records has handled all distribution, and this acquisition is a reflection of an already solid relationship between the two entities. Over time, they have built a lengthy roster including Gunna, SNOT, Tee Grizzley, and most recently, Mary J. Blige’s, Mary Jane Productions. Prior to co-founding 300, Cohen served as the chief exec for WMG and Liles will now transition into the appointed chairman & CEO across both 300 and Elektra Music Group, which is an extension of Atlantic.
While the press announcement did not disclose the amount of the deal, it is rumored to be around $400 million. By bringing 300 into Warner Music Group, there will be a greater focus on nurturing potential superstar talent across all genres.
[Via]