(CelebrityAccess) — Warner Music Group announced plans to acquire the assets of 12Tone Music, the independent label founded by recording industry legend Doug Morris in 2018.
12Tone’s catalog and roster includes Anderson .Paak, the 88rising collective, Lauren Daigle’s Look Up Child, EDM producer/artist ILLENIUM and country music icon Dolly Parton.
Under the terms of the deal, Morris will continue to be “actively engaged” in the day-to-day oversight of the label and its stable of artists.
“12Tone is home to some of today’s most compelling artists and innovative label partners, encompassing emerging and established talent that crosses genres and generations. We’re very pleased that Doug has chosen Warner as the team to continue nurturing the amazing artists that 12Tone has signed and developed over the past three years,” said Max Lousada, CEO of Warner Music Group’s Recorded Music.
“After leading all three major music companies, I loved returning to my indie roots by starting 12Tone. I want to thank Steve Bartels and the 12Tone team for being such a big part of the picture. This three-year run has been a lot of fun. I look forward to remaining fully engaged with the WMG team, who are outstanding professionals. A special thanks to Max – I know the music couldn’t be in better hands,” added Doug Morris.
The financial terms of the transaction, which is expected to close by the end of July, were not disclosed.