New York, NY – Warner Music Group has acquired 300 Entertainment, label home to Megan Thee Stallion, Young Thug, Gunna, Fetty Wap and Mary J. Blige, among others.
According to a press release, 300 Entertainment CEO Kevin Liles will be appointed Chairman and CEO across 300 Entertainment and Elektra Music Group, the latter of which encompasses Fueled By Ramen, Roadrunner Records, Low Country Sound, DTA Records and Public Consumption.
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Those entities will continue to be headed by Co-Presidents Mike Easterlin and Gregg Nadel, who will report to Liles. The label will retain its independent identity, while the entirety of its team will continue to occupy separate headquarters in New York.
“At Warner Music, the independent spirit is part of our story, our DNA, and our vision,” Max Lousada, CEO, Warner Recorded Music, says. “We’re creating the environment for original artists, entrepreneurs, and labels to pioneer the future of music. The 300 team has built an extraordinary brand, attracted a dynamic community of artists, and led the way for a new generation of labels.
“We’ll bring their artists and team a whole universe of opportunities to ignite passionate fanbases and develop long-term careers. We’re very happy to welcome 300 fully into the Warner community of labels, and Kevin to his new role on our senior management team.”
300 Entertainment was founded in 2012 by former Def Jam Recordings executive Lyor Cohen, Roger Gold, Kevin Liles and Todd Moscowitz. Cohen is beyond confident in both Warner Music Group and Liles’ ability to steer the ship, saying, “Wonderful to see a good idea realized. 300 is a way of life and is in very good hands.”
Since 300 Entertainment’s launch nearly a decade ago, the imprint has been distributed by Atlantic Records, and the acquisition represents “the expansion of an already successful partnership.”
In October, Bloomberg reported 300 Entertainment was up for sale at $400 million, but Warner Music Group’s final offer wasn’t disclosed.