Entertainment

Megan Thee Stallion Label 300 Entertainment is about to hit Warner Music sales – Billboard

300 Entertainment, the record label of Megan Thee Stallion and Young Thug, is closing in on a roughly $400 million deal to sell to Warner Music Group, sources say Billboards.

The acquisition, the source of the tension that has yet to be completed, will also bring 300 co-founders and executives Kevin Liles a senior role at Warner.

A source said that if WMG acquires 300, the label will continue to operate as an independent entity.

This will mark the return to WMG of Liles, who served as vp executive at the company from 2004 to 2009. Prior to that, he worked alongside 300 of his future co-founders. Lyor Cohen (now YouTube’s head of global music) as president of Def Jam Recordings in the late 1990s and early 2000s.

Liles left Warner to form the management company KWL Enterprises and in 2012 founded 300 with Cohen, Todd Moscowitz (currently the CEO of Alamo Records) and Golden Roger (Director of Camila Cabello) with funding from Google and several financial companies. Since then, the company has earned #1 singles and/or albums from Fetty Wap (Fetty Wap), migos (Culture, “Bad & Boujee” featuring Lil Uzi Vert), Thug (Very happy, Young Stoner Life: Slime Language 2, Punk, “Havana” by Cabello) and Megan Thee Stallion (“Savage”, “WAP” by Cardi B). Liles has held the position of CEO since 2017, when Cohen left to YouTube.

In 2020, Liles is named Billboard’s R&B / Hip-Hop Power player CEO of the Year, and at the time, he downplayed the possibility of a sale, but said the company never ruled out an acquisition, merger or strategic partnership. “Two years ago 300 had a campaign that we weren’t for sale and although we had a number of companies and investors approached us, we were interested in building a billion dollar company. dollars and serve our artists and partners to the best of our ability,” he said. “There is never an opportunity that we wouldn’t pass up if it was for growth. of our artists.”

Warner Music Group – going public June 2020 – raised $540 million through the sale of 3.75% premium-backed bonds offered to help finance three acquisitions worth $710 million, the company announced Nov. 17, it was said on Nov. when the company signed a non-binding intention for the three deals.

https://www.billboard.com/pro/300-entertainment-warner-music-sale-megan-thee-stallion/ Megan Thee Stallion Label 300 Entertainment is about to hit Warner Music sales – Billboard

Dais Johnston

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