300 Entertainment moves into a new home at Warner Music Group as the company’s newest music asset, according to a WMG Communications press release.
Welcoming 300 Entertainment and its roster of artists to WMG.
— Warner Music Group (@warnermusic) December 16, 2021
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MORE: Record Label 300 Entertainment Might Be Sold For $400 Million
On Thursday morning (Dec. 16), Warner Music Group announced the acquisition of 300 Entertainment, one of the world’s most successful independent mus companies and home to award-winning stars such as Young Thug, Meghan Thee Stallion and the Queen of Hip Hop Soul” Mary J. Blige. And with the acquisition news, WMG announced that 300 CEO Kevin Liles would remain in his current position with the company and be appointed Chairman and CEO at Elektra Music Group.
For the 300 roster, the new deal expands the global footprint as the independent company will be distributed through Warner Music Group and Atlantic Records, with who they had a distribution partnership before the new acquisition. The acquisition represents the expansion of an already successful partnership.
In the new deal, 300 will remain and operate as an independent entity in New York. “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,” said Liles. “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.”
Warner Music Group CEO Max Lousada on 300 Entertainment: “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.”
MORE: QC’s Pierre “Pee” Thomas Wants To Buy 300 Entertainment
Last month’s 300’s sell exploration news peak the interest of, like Quality Control’s Pierre “Pee” Thomas. Taking to Twitter the day news broke, Pee tweeted: “I Wanna Buy @300 My Bankers On Deck. Let’s Have The Conversation.”
300 Entertainment was founded by Kevin Liles and Lyor Cohen in 2012. In a decade, the company has achieved four GRAMMY® Awards, 13 GRAMMY® Award nominations and nearly 200 RIAA gold, platinum, multi-platinum, and diamond-certified singles. Cohen departed 300 in 2016 to become Head of Music at Youtube – but would continue to support Liles and 300.
“Wonderful to see a good idea realized. 300 is a way of life and is in very good hands,” said Cohen commented in the press release.
The post SOLD! Warner Music Group Acquires 300 Entertainment appeared first on The Source.
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