Willie Nelson has partnered with longtime manager Mark Rothbaum and veteran producer/label exec James Stroud on Pedernales Records. The official announcement is expected Friday (March 16) at the South By Southwest Music and Media Conference.

"The label is an extension of Willie's philosophy on music, which is that there are no boundaries," Stroud said in a release. "One of the things that makes him such an icon is that he has always been open to any genre of music that's done well and with passion."

The first act on Austin-based Pedernales will be the band 40 Points, which features Nelson's sons, guitarist and singer Lukas and drummer Micah. The group, whose sound is a blend of rock, reggae, blues and funk, will be produced by Stroud and and an album will be released this summer. The elder Nelson will make a guest appearance.

Nelson will also record for the label. His last release on Nashville-based Lost Highway Records is due March 20. "Last of the Breed" is a two disc album with Merle Haggard and Ray Price.

Pedernales Records takes its name from the river that flows by Nelson's home
and headquarters outside of Austin, where he also owns Pedernales Country
Club and founded Pedernales Studios.