(Bloomberg) – 300 Entertainment, the label of Megan Thee Stallion and Young Thug, is considering a sale, according to two people familiar with the process.
The company is expected to sell for at least $ 400 million, said one of the people, who asked not to be identified as the talks are private.
The owners sell in the most frenetic musical asset market in recent memory. Copyrights and music companies have gained in value in recent years thanks to streaming services. Music sales have soared for five consecutive years.
After leaving Warner Music Group in 2012, music mogul Lyor Cohen founded 300 alongside three of his former colleagues. The label quickly established itself as a force in hip hop with rappers Young Thug and Fetty Wap. Fetty Wap’s “Trap Queen” peaked at No. 2 on the Billboard charts in 2015.
The company has raised funds from Google, as well as several financial firms. Cohen left in 2016 and is now the global head of music for YouTube. Kevin Liles took over as CEO and still runs the business.
300 went on to produce blockbuster acts, none greater than Megan Thee Stallion. The Houston rapper won three Grammy Awards this year, including Best New Artist and Best Rap Song for “Savage.” Atlantic Records from Warner Music Group distributes the releases of 300.
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