Photo Credit: Morgan Wallen by Andrew Wendowski / CC by 4.0
Nashville record label Big Loud has sold a minority stake in Morgan Wallen’s catalog to Chord Music Partners for $200 million.
A representative for Big Loud, the Nashville label that’s home to country star Morgan Wallen, confirmed the sale of a minority stake in the singer’s catalog to Chord Music Partners. Chord made the purchase for $200 million, sources close to the matter said.
“Big Loud has sold a minority stake in Morgan Wallen’s master recording catalog to Chord Music Partners, as part of a strategic investment to expand the label’s global footprint and fuel long-term artist development,” the rep told THR. “The deal was executed with the support of the internal Big Loud team, alongside partners at Chord Music, Republic Records & UMG, PLUS Capital, Eisner, Loeb & Loeb, DLA Piper, Dickinson Wright and Armanino.”
Chord Music was founded in 2021, a collaboration between investment companies KKR and Dundee Partners. Its portfolio includes songs from John Legend, Ryan Tedder, and The Weeknd, among others. Universal Music Group bought a 25.8% stake in Chord last year as KKR stepped down.
Big Loud has fast become one of Nashville’s major record labels since its founding in 2013. Its roster boasts Wallen, Hardy, Ernest, and Miranda Lambert, among others. Even Wallen alone offers lucrative multiples that will earn out steadily over the next decade or so, according to sources close to the strategic investment.
Having forged a strong relationship with UMG’s Republic Records, Big Loud signed a multi-year distribution agreement with Republic’s Mercury Records last year. The deal with Chord—in which UMG already holds an equity stake—further strengthens Big Loud’s foothold in the sector and in Universal’s own ecosystem as the world’s largest music company.
Morgan Wallen is gearing up for his I’m The Problem stadium tour, which kicks off in Houston on June 20.
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