Warner Music Group (WMG) today announced the acquisition of 300
Entertainment, one of the world’s most successful and influential
independent music companies. 300’s artists include top-charting,
multi-platinum stars such as Megan Thee Stallion – who won Best New
Artist at this year’s Grammy Awards, Young Thug and his label Young
Stoner Life, Gunna, Fetty Wap, Highly Suspect, the newly signed
“Queen of Hip-Hop Soul” Mary J. Blige, and many others. Since its
launch nearly a decade ago, 300 has been distributed by Atlantic
Records, and the acquisition represents the expansion of an already
successful partnership.
At the same time, 300 Co-Founder and CEO Kevin Liles will be
appointed Chairman & CEO across 300 and Elektra Music Group.
Elektra Music Group, which encompasses Fueled By Ramen, Roadrunner
Records, Low Country Sound, DTA Records, and Public Consumption,
will continue to be headed by Co-Presidents Mike Easterlin and
Gregg Nadel, who will report to Liles. 300 will retain its
independent identity, and the entirety of its team will continue to
occupy separate headquarters in New York.
One of the most respected leaders in the music industry, with
three decades of wide-ranging experience, Liles was named
Billboard’s R&B/Hip-Hop Executive of the Year in 2020. His
roles have included President of Def Jam Recordings, Executive Vice
President of the Island Def Jam Music Group, EVP of Warner Music
Group, and Founder/CEO of KWL Enterprises. Liles began his music
career as an artist in the Baltimore-based DJ crew, Numarx.
Max Lousada, CEO, Warner Recorded Music, said, “At Warner Music,
the independent spirit is part of our story, our DNA, and our
vision. We’re creating the environment for original artists,
entrepreneurs, and labels to pioneer the future of music. The 300
team has built an extraordinary brand, attracted a dynamic
community of artists, and led the way for a new generation of
labels. 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 to his new role on our senior
management team.”
Kevin Liles, 300 Co-Founder & CEO, said, “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. 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. 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.”
Lyor Cohen, 300 Co-Founder, said, “Wonderful to see a good idea
realized. 300 is a way of life and is in very good
hands.”
Julie Greenwald, Chairman & COO, Atlantic Records, said,
“I’ve enjoyed working with Lyor and Kevin for over 30 years. 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. Since we launched EMG as a stand-alone label group in
2018, Mike and Gregg have been driven by an adventurous spirit, and
they’ve done an incredible job developing brilliant artists and
building a fantastic team. By bringing 300 into the fold, we’re
creating a truly multi-genre operation designed to attract and
nurture superstar talent across the musical spectrum.”
Mike Easterlin and Gregg Nadel, Co-Presidents, Elektra Music
Group, said, “All of the labels in the Elektra family were founded
by entrepreneurs who are passionate about music and always put
their artists first. 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.”
The following people advised 300 on the deal: Aryeh B. Bourkoff
and James Lindsay at LionTree LLC; David C. Eisman and Glen G.
Mastroberte at Skadden, Arps, Slate, Meagher & Flom LLP; and
Neil S. Goldstein at Robinson Brog Leinwand Greene Genovese &
Gluck, P.C.
Access accompanying images here.
About 300 EntertainmentSince launching in 2012,
300 Entertainment has proudly remained, “A New Independent.”
Independently funded, owned, and operated, the company groomed,
grew, and galvanized a new generation of superstars across hip-hop,
rock, pop, electronic, and alternative. By 2021, 300 Entertainment
has been named the #1 Independent Label according to BuzzAngle.
300’s development-focused and digital-centric disruption has
quietly elevated the brand to the cutting-edge of both music and
culture. Among many achievements, roster acts have garnered a total
of four GRAMMY® Awards, 13 GRAMMY® Award nominations, a Shorty
Award, nearly 200 RIAA gold, platinum, multi-platinum, and
diamond-certified singles, and NAACP Award, American Music Award,
and BET Award nominations and wins. Led by CEO and Co-Founder Kevin
Liles, the label has positioned itself at the forefront of
streaming. Its revenue is comprised of 95% streaming and the label
has garnered over 50 billion cumulative streams to date. The
company has also been named one of Inc. Magazine's Best Workplaces,
as well as been included on Fast Company’s Brands That Matter list
and Fast Company’s Best Workplaces for Innovators list (Small
Company category). 300 has also consistently championed social
justice and social responsibility. Over the past year, the company
implemented the 300 Entertainment Social Justice League, several
large-scale donations, and a forthcoming 501(c)(3) for the company
that seeks restorative justice for families of police killings. 300
Entertainment’s talent includes Mary J. Blige, Megan Thee Stallion,
Young Thug, Gunna, Lil Keed, Tee Grizzley, Famous Dex, Highly
Suspect, Fetty Wap, Drax Project, YNW Melly, Bailey Bryan, and
more. 300 Entertainment has launched ventures and partnerships such
as Young Thug’s YSL, Shy Glizzy’s Glizzy Gang, and RGF Island.
About Warner Music GroupWith a legacy extending
back over 200 years, Warner Music Group (WMG) today brings together
artists, songwriters, and entrepreneurs that are moving
entertainment culture across the globe. Operating in more than
70 countries through a network of affiliates and licensees, WMG’s
Recorded Music division includes renowned labels such as Asylum,
Atlantic, Big Beat, Canvasback, Elektra, Erato, First Night, Fueled
by Ramen, Nonesuch, Parlophone, Reprise, Rhino, Roadrunner, Sire,
Spinnin’, Warner Records, Warner Classics, and Warner Music
Nashville. WMG’s music publishing arm, Warner Chappell Music, has a
catalog of over one million copyrights spanning every musical
genre, from the standards of the Great American Songbook to the
biggest hits of the 21st century. Warner Music Group is also home
to ADA, the independent artist and label services company – as well
as next gen artist services division WMX, which includes consumer
brands such as Songkick, the live music app; EMP, the merchandise
e-tailer; UPROXX, the youth culture destination; and HipHopDX, the
hip-hop music news site. In addition, WMG counts storytelling
powerhouse Warner Music Entertainment and social media content
creator IMGN among its many brands.
WMG Media ContactsJames
StevenJames.Steven@wmg.comMajeda
HusseinMajeda.Hussein@wmg.com
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