300 Entertainment is reportedly considering a sale in the realm of $400 million.
300 Entertainment, the record label which represents many of the rap game’s biggest names including Megan Thee Stallion, Gunna, Migos, and Young Thug, is reportedly considering a sale. Bloomberg reports that the owners are seeking $400 million in return, according to two people familiar with the negotiations.
The company is reportedly hoping to take advantage of a booming market for music assets.
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The label was founded by Lyor Cohen, Roger Gold, Kevin Liles, and Todd Moscowitz in 2012.
Speaking with Music Business Worldwide in 2019, Liles discussed the group’s motivation to start 300: “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.”
He added: “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.”
Liles also described them as the “New Independents.”
“It’s not the old way of thinking, it means being independent in partnership, independent in capitalization, and independent in collaboration,” he explained.