The music heavyweight reportedly shelled out about $400 million for 300 Entertainment.
300 Entertainment will retain its “independent identity,” according to the announcement, and co-founder and CEO Kevin Liles will be promoted to CEO and chairman of a new division that puts Elektra Music Group under the 300 umbrella.
Liles called the acquisition “a natural evolution” and said the group plans to “take our artists and labels to a whole new global level.”
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