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The company did not disclose the terms of the
transaction. A person familiar with the matter told Reuters that
the deal was worth about $400 million.
300 Entertainment was founded by veteran music industry
executives including Lyor Cohen, who is currently the global
head of music at Alphabet Inc's Google and YouTube and was
formerly with Warner Music.
The deal would help Warner Music expand the global footprint of
300 Entertainment's roster of artists.
The label will continue to function independently and be led by
its co-founder, Kevin Liles, Warner Music said.
Separately, Megan Thee Stallion, the winner of Best New Artist
at this year's Grammy Awards, on Thursday signed a deal with
Netflix Inc for an exclusive first look deal to produce a new
series and other projects for the streaming giant.
(Reporting by Tiyashi Datta and Chavi Mehta in Bengaluru;
Editing by Ramakrishnan M. and Amy Caren Daniel)
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