New York-based record label 300 Entertainment is reportedly looking to sell.
That’s according to an article from Bloomberg today (October 28), which, citing ‘two people familiar with the process’, reports that the hip-hop label is currently ‘exploring a sale’.
Bloomberg reports that one of its sources say that 300 ‘is expected to sell for at least $400 million’.
300 Entertainment is one of the most successful modern independent labels in the United States.
Run by CEO Kevin Liles, the company has enjoyed success with artists such as Megan Thee Stallion, Gunna, and Young Thug.
The label was originally founded in 2012 by Liles alongside his former Warner Music and Def Jam colleague, Lyor Cohen.
Their fellow co-founders at 300 were Roger Gold (now manager of Camila Cabello) and respected A&R specialist, Todd Moscowitz.
300’s other successes over the years have included signings such as Fetty Wap and Migos, who released their first album with the company, as well as superstar Megan Thee Stallion.
Google was an early investor in New York-based 300 Entertainment, and is rumored to have pumped a seven-figure sum into the company in its early years.
In June, 300 Entertainment launched Sparta, an invite-only distribution platform for DIY artists.
“We are a platform for entrepreneurs, for entertainers, for executives, for creators to partner and do great things.”
Kevin Liles, 300 Entertainment, speaking to MBW in 2019
In an interview with MBW in 2019, 300 Entertainment CEO Kevin Liles, said: “We wanted to build a disruptor, to say, ‘Let’s get rid of all the red tape.’ We didn’t even call ourselves a ‘label’ – we are a platform for entrepreneurs, for entertainers, for executives, for creators to partner and do great things.
“As I reflect on it now, [the launch] was like a Bat Signal for freedom; freedom to do what we wanted when we wanted to do it, with the people we wanted to do it with.
“We are part of what I call the ‘New Independents’; it’s not the old way of thinking, it means being independent in partnership, independent in capitalization, and independent in collaboration.”Music Business Worldwide