DMG to close Lyric Street Records

Blames changing music business, transitions Rascal Flatts

NEW YORK -- Walt Disney's Disney Music Group said Wednesday it will close its Lyric Street Records label in Nashville, citing the changing music and studios business.

The label is best-known as the home of Rascal Flatts, who will be transitioned to another Disney music imprint.

"The Lyric Street team has had an amazing run, building a slate of well-known artists," said 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."

Opened in 1997, Lyric Street also was home to such artists as SHeDAISY, Love & Theft, Sarah Buxton, Tyler Dickerson, Kevin Fowler and "American Idol" alums Josh Gracin and Bucky Covington.

DMG encompasses all of Walt Disney Studios' recorded music and music-publishing operations, including Hollywood Records, Walt Disney Records and Walt Disney Music Publishing.
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