Megan Thee Stallion and Young Thug’s label 300 Entertainment has been sold to Warner Music Group.
Warner Music Group announced its acquisition of 300 Entertainment on Thursday. The financial details of the deal weren’t disclosed.
“The 300 team has built an extraordinary brand, attracted a dynamic community of artists and led the way for a new generation of labels,” Warner’s CEO of recorded music Max Lousada said in a statement. “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 [Liles] to his new role on our senior management team.”
As part of the deal, 300 Entertainment CEO Kevin Liles has been appointed the CEO and Chairman of Warner Music’s newly acquired label and Elektra Music Group. Liles co-founded 300 with Lyor Cohen, Roger Gold and Todd Moscowitz in 2012.
“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,” Liles said. “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 added, “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.”
Prior to the sale, 300 Entertainment had a distribution deal with Warner Music’s subsidiary Atlantic Records. Liles also worked for Warner in the past, serving as the company’s executive vice president.