Curb Records has bought out Warner Music Group’s majority stake in Word Entertainment, making it the sole owner of the heritage Christian music and entertainment company. Word’s printed music division was not a part of the deal and remains jointly owned by WMG and Curb. While terms of the deal were not disclosed, sources suggest that Word brings in about $70 million in annual revenue.
The deal gives Curb Records nearly 1 percent U.S. market share; Curb finished 2015 with 0.52 percent while Word had 0.45 percent, according to Nielsen Music. In the Christian music market, Curb and its distributed labels have 12.93 percent in the Christian marketplace, making it the third largest distributor there, according to Nielsen Music.
Including Word's record label, music distribution and music publishing company, Curb has acquired Word's entire broad entertainment company which includes a presence in film and live events. The deal also includes the Word building, which add to Curb's real estate interest on Nashville's Music Row. Rod Riley, president and CEO of Word, will continue to run that company.