Not only has Sony Music reportedly just bought Bruce Springsteen’s recorded music and publishing rights for $500 million, but today (December 16), it’s been confirmed that Warner Music Group has acquired New York-headquartered 300 Entertainment.

Warner’s acquisition of the hip-hop label, a long-term partner of WMG/Atlantic Records, was predicted by MBW last month after WMG raised $535 million.

The news also confirms a Bloomberg report from October, which suggested the label was up for sale at around $400 million. Warner hasn’t disclosed what it paid for 300, but senior industry sources tell us that the mooted $400 million price tag is approximately accurate.

Led by CEO Kevin Liles, 300 Entertainment is one of the most successful modern independent labels in the United States.

The company was originally founded in 2012 by Liles alongside his former Warner Music and Def Jam colleague, Lyor Cohen.

Their fellow co-founders at 300 were Roger Gold (now manager of Camila Cabello) and respected A&R specialist, Todd Moscowitz.

Since its launch nearly a decade ago, 300 has been distributed by Atlantic Records, and WMG says the acquisition “represents the expansion of an already successful partnership”.

WMG says that 300 “will retain its independent identity,” and the entirety of its team will continue to occupy separate headquarters in New York.

It has also been announced today that Liles will be appointed Chairman & CEO across 300 and Elektra Music Group.