Stock Groups

Warner Music Group acquires label behind rapper Megan Thee Stallion -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO: Megan Thee Stallion performs in the course of the BET Awards at Microsoft theatre in Los Angeles, California, U.S., June 27, 2021. REUTERS/Mario Anzuoni

(Reuters) -Media firm Warner Music Group mentioned on Thursday it had acquired 300 Leisure, the music label behind artists resembling Megan Thee Stallion, Fetty Wap and Mary J. Blige.

The corporate didn’t disclose the phrases of the transaction. An individual conversant in the matter advised Reuters that the deal was value about $400 million.

300 Leisure was based by veteran music business executives together with Lyor Cohen, who’s at present the worldwide head of music at Alphabet (NASDAQ:) Inc’s Google and YouTube and was previously with Warner Music.

The deal would assist Warner Music broaden the worldwide footprint of 300 Leisure’s roster of artists.

The label will proceed to perform independently and be led by its co-founder, Kevin Liles, Warner Music mentioned.

Individually, Megan Thee Stallion, the winner of Greatest New Artist at this yr’s Grammy Awards, on Thursday signed a take care of Netflix Inc (NASDAQ:) for an unique first look deal to provide a brand new collection and different initiatives for the streaming big.

Disclaimer: Fusion Media want to remind you that the info contained on this web site isn’t essentially real-time nor correct. All CFDs (shares, indexes, futures) and Foreign exchange costs usually are not supplied by exchanges however somewhat by market makers, and so costs might not be correct and should differ from the precise market worth, which means costs are indicative and never acceptable for buying and selling functions. Due to this fact Fusion Media doesn`t bear any duty for any buying and selling losses you may incur because of utilizing this information.

Fusion Media or anybody concerned with Fusion Media is not going to settle for any legal responsibility for loss or harm because of reliance on the knowledge together with information, quotes, charts and purchase/promote indicators contained inside this web site. Please be totally knowledgeable relating to the dangers and prices related to buying and selling the monetary markets, it is among the riskiest funding kinds doable.

[ad_2]