Megan Thee Stallion and Young Thug have been hot in the US for years. With Warner Music Group buying 300 Entertainment, they can now grow globally.
In a massive move for an industry giant, Warner Music Group announced its acquisition of 300 Entertainment on Thursday morning.
That means the 300 roster, which boasts Megan Thee Stallion, Young Thug, Mary J. Blige, Gunna, Fetty Wap, Tee Grizzley and more, now falls under Warner’s umbrella.
According to reports from Variety, sources place the price of the deal around $400 Million.
Founded in 2013 by industry veterans and Def Jam alumni Lyor Cohen and Kevin Liles, 300 is expected to retain its identity as an independent. Liles will retain a leadership position in 300’s new home at Warner, serving as a chairman and CEO for 300 and Elektra Music Group.
“At 300, we’re all about freedom,” Liles said in a press release. “The freedom to create, the freedom to be intrapreneurs and entrepreneurs, the freedom to make music that changes the world.”
While Liles also called the team at Warner close as kin, it’s the word ‘world’ that may be the most important piece in this new blockbuster acquisition.
“We’re going to accomplish amazing things together,” said Liles, “and take our artists and labels to a whole new global level.”
Famously, her 2020 album Good News topped the charts in the US. While Megan’s star is rising rapidly, Good News didn’t see the same sales heights overseas.
Similarly, Young Thug’s 2021 album Punk hit No. 1 on Billboard in both the US and Canada. However, it failed to crack the top five in charts outside of North America.
Both albums were put out under 300 Entertainment and highly successful stateside, making one wonder what a boost from Warner Music Group could do for their reach in foreign markets.
With the power of Warner, both established and emerging acts signed to 300 Entertainment could see their star rise internationally in a year where live events look to bounce back.
Acting independent with a chance to grow global, the timing could prove perfect for 300 Entertainment and its new home.
“300 is a way of life,” Lyor Cohen said of the deal. “And is in very good hands.”