We’re not sure how Christmas dinner goes round the Grainges, but there could be a fun moment over the mince pies this year when Universal Music boss Sir Lucian asks son Elliot how his new joint venture is going.
The one with… Warner Music Group.
Elliot Grainge is the founder of independent label 10K Projects, which works with artists including Trippie Redd, Ice Spice and Iann Dior.
It has now entered a JV with Warner Music Group that will see the company “become a standalone label within the WMG ecosystem” – although Ice Spice will sit outside that due to her deal with Capitol Records.
10K Projects is no stranger to mergers: last year it acquired label and influencer-management company Homemade Projects.
“Joining Warner Music Group provides us with the backing, the collective expertise and vision to empower our artists and our employees on the next phase of our journey,” said Elliot Grainge in a statement.
“It’s a label full of next generation possibilities – with its artists, its leader, and its team,” added WMG’s CEO, recorded music Max Lousada.
Lucian Grainge’s thoughts are unknown – although jokes aside, as a public company, acquiring his own son’s label would almost certainly be asking for trouble. Christmas is saved!