Curb Records Acquires WMG's Stake In Word Entertainment
March 2, 2016 at 11:19 AM (PT)
CURB RECORDS and WARNER MUSIC GROUP CORP. (WMG) today (3/2) announced that CURB has acquired WMG’s stake in WORD ENTERTAINMENT, the Christian faith-based entertainment company based in NASHVILLE. As a result, WORD ENTERTAINMENT becomes a wholly owned division of CURB, expanding on the long partnership between CURB and WMG.
WORD President/CEO ROD RILEY will continue to run WORD ENTERTAINMENT. WMG will continue to distribute WORD releases to the general market, and WORD will continue to distribute WMG releases to the Christian market. WORD’s publishing catalog will continue to be administered by WARNER/CHAPPELL.
Since 2002, WORD ENTERTAINMENT has been owned 80% by WMG and 20% by CURB. Under the terms of the transaction, CURB purchases WMG’s share in WORD’s recorded music, distribution, publishing, film, and live events divisions, as well as the company’s building in NASHVILLE. The company’s printed music division remains jointly owned by WMG and CURB.