Warner Music Agrees to Buy Megan Thee Stallion Record Label

Warner Music Group Corp. agreed to buy 300 Entertainment, an independent record label whose artists include Megan Thee Stallion, Young Thug and the recently signed Mary J. Blige.

300 was co-founded by former Warner executives Lyor Cohen, Kevin Liles and Roger Gold. It’s most known for its hip-hop artists. Liles will continue as chief executive officer, presiding over a collection of Warner labels as part of its Elektra Music Group, the company said in a statement Thursday.

Financial terms weren’t disclosed, although a person with knowledge of the matter put the price at about $400 million. Music from ...