300 Entertainment is reportedly for sale. According to a recent report by Bloomberg, the independent label co-founded by Kevin Liles, Lyor Cohen, Roger Gold and Todd Moscowitz, has had conversations about selling the company. Bloomberg reports 300 is expected to sell for at least $400 million — based on a valuation by a source engaged in the business meetings.
The company is currently home to several major hip hop artists, including Megan Thee Stallion, Young Thug, Gunna, Fetty Wap, Shy Glizzy, Tee Grizzley, and more. It was founded in 2012 and has grown to become one of the most successful independent labels in the U.S.
On Saturday (Oct. 30), Quality Control Music CEO/co-founder Pierre “Pee” Thomas put his bid in via Twitter. “I Wanna Buy @300 My Bankers On Deck. Let’s Have The Conversation,” he tweeted.
Pee’s label, which he co-founded with Kevin “Coach K” Lee, is home to Migos, Lil Baby, City Girls, Lakeyah, and more. NFL players Alvin Kamara, Deebo Samuel, and D’Andre Swift are also a part of QC’s sports roster.
While Motown distributes releases for QC, Atlantic Records handles distribution for 300. If Pee were to purchase 300, it’s unclear how distribution would be handled.
In an interview with Complex days before he left the company to become Global Head of Music at YouTube, Cohen said artists felt a “sense of purpose” at 300. “They feel like we’re on the cusp of an era, a transitional era, where you’ll see more boutique labels. Not independent like broke independent, but have an independent spirit and a sufficient amount of capital to really make a dent.”
“The only obstacle [I’ve faced] is the profound sense of responsibility that I have, to get it right and make it special,” Cohen continued. “To not fuck it up. It’s almost the same responsibility when I took over Def Jam, when Rick [Rubin] left. I don’t want be the one known for murdering Def Jam. So, I don’t want to be known for not seizing the opportunity, where streaming is exploding and access to fans is easier and less expensive than it was before.”
In 2019, Liles, told Music Business Worldwide: “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,” he said. “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.”
The acquisition of 300 will undoubtedly be a megadeal. If QC was somehow able to combine its roster with 300, that merger would send shockwaves throughout the hip hop industry.
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