WMG ACQUIRES 300

Confirming longstanding biz rumors, Warner Music Group has announced its acquisition of 300 Entertainment, which it had previously distributed, and that co-founder Kevin Liles will serve as Chairman/CEO of 300 and Elektra Music Group. 300's roster includes Megan Thee Stallion, Young Thug, Fetty Wap and the recently inked Mary J. Blige.

“At Warner Music the independent spirit is part of our story, our DNA and our vision," reads a quote from WMG CEO of Recorded Music Max Lousada. "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.”

For more on the other co-founder of 300, go here.