Originally launched in 2009 as a joint venture label between Universal Music Group (UMG) and Big Machine Label Group (BMLG)'s Scott Borchetta, Republic Nashville has officially become a wholly owned BMLG subsidiary along with The Valory Music Co. and the flagship label under the roster, Big Machine Records.
The deal comes, as reported by Music Row and Billboard, as BMLG has extended their distribution agreement with UMG for an undetermined amount of years. As a result, BMLG is now off the market as Borchetta reportedly had sought $225 million to $250 million to sell the company that also holds the valuable catalog and two future recording releases from superstar Taylor Swift, to any potential buyer. Buyers interested were said to include Sony Music Entertainment, Warner Music Group, Snap Chat and other equity investors. Borchetta was, according to Billboard, looking to become the heir apparent CEO for whatever company bought BMLG but with BMLG now off the market, he's gained a little more marketshare and full ownership of Republic Nashville (no word on if Dot Records, a recent J/V with UMG is part of the deal too, though we'd have to think it would be given its infancy as a label within BMLG).
Republic Records is home to country superstar duo Florida Georgia Line (pictured above), The Band Perry, Cassadee Pope, Eli Young Band and A Thousand Horses
We'll update this story as it warrants.