It comes as no surprise that Warner Music Group has acquired 300 Entertainment, which happens to be the home to rappers Megan Thee Stallion, Young Thug and his label Young Stoner Life, Gunna, Fetty Wap, and more. “Queen of Hip-Hop Soul” Mary J. Blige is also one of the label’s newly signed artists.
300 was established nearly ten years ago and has been distributed by Atlantic Records. Its recent acquisition “represents the expansion of an already successful partnership,” the announcement stated.
However, terms of the deal were not released, but sources say it’s around $400 million, Variety reported.
300 co-founder and CEO Kevin Liles will become chairman & CEO across 300 and Elektra Music Group, an established stand-alone label group created by Atlantic several years ago. Elektra Music Group, which has Fueled By Ramen, Roadrunner Records, Low Country Sound, DTA Records, and Public Consumption, will keep its co-presidents, Mike Easterlin and Gregg Nadel, both will report to Liles.
According to the released statement, 300 will remain as an independent identity, and the company 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. 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,” Warner recorded music CEO Max Lousada Said.
Liles added, “At 300, we’re all about freedom – the freedom to create, the freedom to be intrapreneurs and entrepreneurs, the freedom to make music that changes the world. Independence is in our DNA and the team at Warner is like family, which makes this a natural evolution for us to do bigger family business. It’s the perfect home for 300 artists and our team, as we invest in our independent vision and grow our global impact. Max, Julie, Gregg, and Mike – these are leaders we know and trust. They understand the value we place on independence, individuality, and creativity. We’re going to accomplish amazing things together and take our artists and labels to a whole new global level.”
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