Over the last week, there’s been talk about how much money the Warner Music Group has paid Kevin Liles to gain 300 Entertainment, a record label that focuses on artists from multiple genres. Some sources that close to the deal, think that the buyout cost the Warner company around $400 million. However, other sources say that the final price was higher than that amount.
It’s now known knowledge that Warner paid $400 million exactly to gain the 300. He paid it out in cash.
Yesterday, SEC filing posted that Warner purchased US company Theory Entertainment LLC, on the same day that the announcement was made.
On the file it says that,
“On December 16, 2021, Warner Music Group Corp. (the “Company”) purchased Theory Entertainment LLC d/b/a 300 Entertainment, pursuant to the terms and conditions of the merger agreement of the same date among Warner Music Inc. and MM Investment LLC, both wholly-owned subsidiaries of the Company, the Buyer Representative, Trifecta Merger Subsidiary LLC, Theory Entertainment LLC d/b/a 300 Entertainment and the Seller Representative.”
The file goes on to confirm that it was in fact $400 million in cash.
According to Warner, the full text of the merger agreement will be up in the next quarterly updates for the investors. It seems that Warner has used cash from a $535 million debt raise.
Liles along with his former partner Lyor Cohen originally founded the company back in 2012. The company 300 will continue to be run by Liles. Some of the popular artists of note hailing from 300 studios include Megan Thee Stallion, Fetty Wap, and Young Thug.
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