Country Aircheck is reporting that the Disney-owned Nashville label Lyric Street, the record label that’s home to such acts as [lastfm]Bucky Covington[/lastfm], [lastfm]Sarah Buxton[/lastfm], [lastfm]Tyler Dickerson[/lastfm] and [lastfm]Rascal Flatts[/lastfm], is closing their doors. There’s no official confirmation of the closing yet nor any word on the fate of the label’s acts. Read on . . .
The Walt Disney Co. says it will transition country music band [lastfm]Rascal Flatts[/lastfm] to another Disney label. Looks like Bucky and the rest could be on their own?
Update: Music Row is now reporting that Disney is phasing out the label’s operations, keeping a radio promotion team in place to work current records. It is reported that the shutdown will layoff 20 to 25 employees after they are finished promoting existing albums.
“The Lyric Street team has had an amazing run, building a slate of well-known artists including the superstar act, Rascal Flatts,” says Bob Cavallo, Chairman of Disney Music Group. “But given the changing nature of the music business and the more streamlined priorities of the Studios, we need to find alternative ways to create and market new artists and their music to consumers. I’m tremendously proud of what the team has accomplished.”