Cash Money Records has partnered with Chase Records in a multi-million dollar deal that also includes Republic Records.
Business Wire reports that the new venture will see the debut album of 17-year-old Austin Mahone released through it as its first joint project later this year.
The signing of Mahone to Cash Money was revealed when co-founder Bryan 'Baby' Williams aka Birdman tweeted the news last week "Congrat chase records and AUSTIN MAHONE WELCOME to tha FAMILY... YMCMBUSINESS expanding tha LABELS."
Last year Mahone was brought under the Universal Music umbrella through his deal with Chase Records that was announced as a new imprint under Republic Records. Artist Direct reports that the deal included distribution, marketing and radio promo being fulfilled through Universal Republic.
Under the Cash Money deal, Chase is said to be tasked with expanding influence and impact within pop music and looks to push more new talent through the venture in the future.
Cash Money Records co-founder and co-CEO Ronald 'Slim' Williams said: "We've been colleagues with the Chase team for a while.
"As we continue our expansion, Chase Records is the perfect partner for Cash Money as we're both striving for excellence and now we're going to make history together. We've been watching Austin ascend to the ranks of pop music's elite. He's one of pop's most promising and powerful young contenders, and he's on his way to becoming a leader for the genre. As a brand, we cherish the chance to work with stars of this calibre."
Fellow Cash Money Records co-founder and co-CEO Williams commented: “We were extremely impressed by everything Chase Records has done with Austin. We bonded over a similar mindset, and it made sense on every level to team up. I can’t wait to see what we collectively accomplish.”
Chase Records team Michael Blumstein, Rocco Valdes, and David Abram added: "Cash Money's support will be integral to the next phase of Chase Records and their artist development. It’s amazing to join forces with one of music’s most respected and revered entities. It’s clear to us that our label and our artists are a priority at Universal with both Cash Money and Republic Records behind us."