Morgan Wallen is upping his business ante. The 31-year-old is opening his own publishing company, Wilder Music, which includes Wallen signing Jared Mullins as the flagship artist. The news comes as Big Loud, Wallen's record label, sold their stake in his catalog.
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"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," a spokesperson tells The Hollywood Reporter.
Although the rep did not disclose the amount, multiple outlets report it was sold for an astonishing $200 million.
It would make sense that the deal would be massive. Wallen pens many of his own hits, including "Thought You Should Know," "One Thing At A Time," "You Proof," and Wallen's current No. 1 hit, "I'm the Problem."
Morgan Wallen Launches His Own Publishing Company
Wallen launching his own publishing company is likely timed to the sale of his catalog. Wallen is especially thrilled to work with Mullins, who has written songs for numerous artists, including Wallen. Mullins has one song on Wallen's forthcoming I'm The Problem album, out on May 16. He also has three songs on Wallen's former One Thing At A Time record, including "Keith Whitley."
"I've seen first hand the amount of talent Jared has as a writer. He brings passion, authenticity and fresh ideas in every write he's in. It's undeniable," says Wallen (via MusicRow). "I'm humbled to be launching this new venture with Warner Chappell, and even more excited that Jared is the first signing at Wilder Music."
"I've been lucky enough to know Morgan for over a decade," Mullins adds. "As an artist, he's obviously one of the greatest of all time, but he's also one of the best writers in the world. I'm extremely grateful and incredibly humbled that he believes in me enough to make me the first signing of Wilder Music ... I'm so thankful for this opportunity and I can't wait to see what the Lord has in store for us."
Wilder Music is operating in partnership with Warner Chappell Music Nashville.
