Warner Music Group have acquired record label 300 Entertainment, which is home to Young Thug, Megan Thee Stallion and Waterparks.
According to reports the deal was rumoured to have cost Warner around $400million (£301million).
As part of the deal, 300 Entertainment’s CEO Kevin Liles will now become chairman and CEO of both 300 and Elektra Music Group, which includes Fueled By Ramen, Roadrunner Records and Travis Barker’s DTA Records.
According to a press release, ”300 will retain its independent identity, and the entirety of its team will continue to occupy separate headquarters in New York.”
Also signed to 300 Entertainment are the likes of Fetty Wap, Gunna, The Hunna and Anna Of The North.