Warner Music Group has announced its acquisition of 300 Entertainment, the influential independent music enterprise with a roster that includes Young Thug and Megan Thee Stallion, among other top-tier artists.
In a statement shared Thursday, 300 co-founder and CEO Kevin Liles—who will now be chairman and CEO across 300 and Elektra Music Group—said the Warner team is “like family.” Furthermore, per Liles, the deal marks a “natural evolution” for all involved. “It’s the perfect home for 300 artists and our team, as we invest in our independent vision and grow our global impact,” he said.
300 was founded by Liles, Lyor Cohen, Roger Gold, and Todd Moscowitz in 2012. Since then, distribution has been handled by Atlantic Records, whose parent company is WMG. Other current 300 artists include Gunna, Waterparks, Tee Grizzley, Maria Becerra, Snot, and more. Earlier this month, 300 welcomed Mary J. Blige’s Mary Jane Productions to the roster. As part of the acquisition deal, 300 will keep its independent identity.
“Wonderful to see a good idea realized,” Cohen, who served as chief exec at WMG prior to co-launching 300, said Thursday. “300 is a way of life and is in very good hands.” Cohen, notably, currently serves as YouTube’s Global Head of Music. Back in 2017, he spoke with Complex about his industry journey, including his time at Def Jam and Rush Productions.
While Thursday’s press release didn’t reveal the exact amount of WMG’s 300 acquisition deal, Variety reports that sources have estimated it to be worth “around $400 million.”
Algebra Blessett (citywinery.com)