Media company Warner Music Group said on Thursday it had acquired 300 Entertainment, the music label behind artists such as Megan Thee Stallion, Fetty Wap and Mary J. Blige.
Megan Thee Stallion performs during the BET Awards at Microsoft theatre in Los Angeles, California, U.S., June 27, 2021. REUTERS/Mario Anzuonisaid on Thursday it had acquired 300 Entertainment, the music label behind artists such as Megan Thee Stallion, Fetty Wap and Mary J. Blige.
The company did not disclose the terms of the transaction. A person familiar with the matter told Reuters that the deal was worth about $400 million. 300 Entertainment was founded by veteran music industry executives including Lyor Cohen, who is currently the global head of music at Alphabet Inc'sRegister now for FREE unlimited access to Reuters.comThe deal would help Warner Music expand the global footprint of 300 Entertainment's roster of artists.
The label will continue to function independently and be led by its co-founder, Kevin Liles, Warner Music said. Separately, Megan Thee Stallion, the winner of Best New Artist at this year's Grammy Awards, on Thursday signed a deal with Netflix IncRegister now for FREE unlimited access to Reuters.comReporting by Tiyashi Datta and Chavi Mehta in Bengaluru; Editing by Ramakrishnan M. and Amy Caren DanielSubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Megan Thee Stallion And Mary J. Blige’s Record Label Bought By Warner Music GroupThe music heavyweight reportedly shelled out about $400 million for 300 Entertainment.
Read more »
Megan Thee Stallion And Mary J. Blige’s Record Label Bought By Warner Music GroupWarner Music Group announced a deal Thursday to buy 300 Entertainment, which is home to top artists Megan Thee Stallion, Young Thug, Fetty Wap and Mary J.Blige.
Read more »
Warner Music Group Acquires 300 Entertainment in $400M DealThe official announcement of the deal will also mean Kevin Liles takes over as chairman/CEO of 300 and Elektra Music Group.
Read more »
Bruce Springsteen Catalog Acquired By Sony Music Group In Record-Setting, Half-Billion-Dollar DealSony Music Group said it has acquired Bruce Springsteen’s entire recorded music and songwriting catalogs, confirming numerous media reports over the past 24 hours. The combined value of the separat…
Read more »
HBO, Warner Bros. Among Top Winners at 2021 Clio Entertainment AwardsThe awards program, which celebrates the year's best entertainment marketing campaigns, was held in Hollywood on Tuesday.
Read more »
HBO, Warner Bros, Microsoft Studios Among Top Clio Entertainment Award WinnersHBO won Television/Streaming Network of the Year, Warner Bros Pictures won Studio of the Year and Microsoft Studios/Xbox won Game Publisher of the Year on Tuesday at the Clio Entertainment awards. …
Read more »