Warner Music Group has acquired 300 Entertainment in a $400M deal
“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 in a statement announcing the deal. “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. It’s the perfect home for 300 artists and our team, as we invest in our independent vision and grow our global impact.
The acquisition by Warner represents a return to the company for Liles, who served as executive vp of the Warner Music Group under chairman and CEO of recorded music— a co-founder in 300 — from 2004 until 2009. 300 — founded by Cohen, Liles, current Alamo Records chiefin 2012 — has been distributed by Warner’s Atlantic Records since its inception.
“I’ve enjoyed working with Lyor and Kevin for over 30 years,” Greenwald said in a statement. “I can’t thank Lyor enough for everything, including entrusting us with 300. I’m excited we’re moving forward with Kevin — he’s always thinking about the future, especially the future of his artists and the future of his company, and how to ensure they thrive and impact culture.
Warner Music Group — which went public in June 2020 — raised $540 million through a sale of 3.75% senior secured notes offering to help fund three acquisitions worth $710 million, the company announced Nov. 17. It was said at the time the company had signed non-binding letters of intent for the three deals.
“All of the labels in the Elektra family were founded by entrepreneurs who are passionate about music and always put their artists first,” Nadel and Easterlin said in a statement. “That philosophy drives everything we do, and we know that Kevin and the team at 300 are cut from the same cloth. We’re looking forward to putting our heads and hearts together and delivering for our phenomenal talent.”
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Fred Armisen and Vanessa Bayer Lead Star-Studded Music Video for George Harrison’s “My Sweet Lord”Mark Hamill, Patton Oswalt, Al Yankovic, Sam Richardson, Ringo Starr, Taika Waititi and Jon Hamm also appear in the music video.
Weiterlesen »
How a Florida Art Gallery Became a ‘Refuge for Misfits’ Seeking a Second Act After Music“I had an odd midlife crisis for a guy in a band,” says Johnny Colt, “[but] my midlife crisis was the opposite what it was supposed to be.”
Weiterlesen »
Midem Chief on 2022 Cancellation: There’s Still a ‘Big Need’ for a Global Music ConferenceFollowing RX France’s decision to cut ties with the conference and cancel its 2022 edition, Alexandre Deniot tells Billboard he’s “still looking at different options” for th…
Weiterlesen »
Bruce Springsteen Sells Catalog to Sony MusicIn what may be the biggest single-artist music-catalog deal to date, a report in Billboard claims that Bruce Springsteen has sold his entire recorded-music and publishing catalog to Sony Music for …
Weiterlesen »
Sony Music, Anghami Form Arabic Record Label With a Global ScopeSony Music Middle East and top Arab music streamer Anghami have teamed up to launch Vibe Music Arabia.
Weiterlesen »