Disney Music Group to Close Lyric Street Records

Disney Music Group (DMG) announced today that they will close operations at Lyric Street Records, DMG's label presence in Nashville.

"The Lyric Street team has had an amazing run, building a slate of well-known artists including the superstar act, Rascal Flatts," 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. I'm tremendously proud of what the team has accomplished."

The closure of Lyric Street will be phased, keeping a core promotions team in place to continue to market and promote the label's current records. Rascal Flatts will be transitioned to another DMG label in order to focus attention on the successful launch of their upcoming fall album.

Since opening in 1997, Lyric Street Records has been the home to multi-platinum artists Rascal Flatts and SHeDAISY. Other artists include Aaron Tippen, Love & Theft, Sarah Buxton and newcomers Tyler Dickerson and Kevin Fowler as well as American Idol alums Josh Gracin and Bucky Covington.

The Disney Music Group encompasses all of the Walt Disney Studios' recorded music and music publishing operations, including Hollywood Records, Walt Disney Records and Walt Disney Music Publishing.