Quality Control’s CEO and Co-Founder Pierre “Pee” Thomas, 40, wants to buy 300 Entertainment — the home of hip-hop superstars Megan Thee Stallion, Fetty Wap, and Young Thug — who is exploring a sale with an asking of $400 million, Bloomberg reports.
Founded by Lyor Cohen, Kevin Liles, Roger Gold, and Todd Moscowitz in 2012. The company has played vital parts in the success of several of the biggest names in today’s hip-hop, including Migos, Fetty Wap, Tee Grizzley, and Rich The Kid. According to two people familiar with the selling process, 300 is expected to sell for $400 million dollars.
As news broke, Pee voiced interest in the company immediately with the tweet, “I Wanna Buy @300 My Bankers On Deck. Let’s Have The Conversation.”
In music, Pee and his QC record label and management have developed an unforgettable track record of developing the biggest superstars in music with the success of Gucci Mane, Migos, Lil Baby, City Girls, Lil Yachty and so many more. Migos and Pee have had good and bad dealings with 300 in the past before exiting in 2016. Migos and QC spoke on the 300 departure costing them half a million dollars in legal fees during their 2018 Complex interview.
On 300’s sale exploration, Bloomberg’s Lucas Shaw writes:
“The owners are selling into the most frenzied market for music assets in recent memory. Music copyrights and companies have soared in value in recent years thanks to streaming services. Music sales have climbed for five years in a row.”
After the tweet, Pee continued to speak the possibility into existence as we head into the holiday season with a few motivational tweets.
300 has yet to respond to Pee’s offer at press time.
More as the story develops.