Warner Music Group have acquired record label 300 Entertainment, which is home to Young Thug, Megan Thee Stallion and Waterparks.
According to NME the deal was rumoured to have cost Warner around $400million (£301million).
As part of the deal, the platform adds, 300 Entertainment’s CEO Kevin Liles will now become chairman and CEO of both 300 and Elektra Music Group, which includes Fueled By Ramen, Roadrunner Records and Travis Barker’s DTA Records.
According to a press release,”300 will retain its independent identity, and the entirety of its team will continue to occupy separate headquarters in New York.”
Just because you’re independent doesn’t mean you have to do it alone.
— Kevin Liles (@KevinLiles1) October 28, 2021
“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,” Liles said about the deal.