According to Country Aircheck is appears Lyric Street Records has closed. Here is the statement I received in my inbox:
Disney Closes Lyric Street: No official confirmation, but it appears Disney has closed Lyric Street, the Nashville-based imprint that is home to Rascal Flatts, Bucky Covington and Love & Theft. Launched on June 1, 1997, the move comes just six months after sister label Carolwood was shuttered.
This must leave fans wondering where Rascal Flatts, Bucky Covington and Love & Theft will land a new home. We will keep you updated on any news we hear.
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Well, Rascal Flatts has been moved to another Disney branch, probably Hollywood Records. I know you guys will be thrilled to here that. No worries for the boys and they will be releasing their album in the fall according to the New York Times. No word on where everyone else is going or doing.
I messed up and typo’ed in my last reply. Sorry about that. But here is the tidbit about Rascal Flatts. It’s nice they took care of the biggest act before shutting down.
http://online.wsj.com/article/SB10001424052702303348504575184212266491320.html
The quote about them says, that isn’t showing for me at the moment.
Rascal Flatts will be moved to another Disney Music Group label, which will release the group’s fall album.
rascal flatts is being moved to hollywood records, it’s confirmed. http://www.boston.com/business/technology/articles/2010/04/14/disney_to_shut_lyric_street_records_lay_off_20_25/?rss_id=Boston+Globe+–+Technology+stories
Here’s the offical statement from the label:
“The Lyrics 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 via press release. “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.”
This is sad, but not surprising. RF was the only act that kept them afloat for so many years. I feel so bad for them, but not worried. So glad they’ve been moved to a new label.
According to an article posted on CMT, Bucky, Tyler Dickerson and Kevin Fowelr will join the Flatts in having a home with a parent Disney Label. Sarah Buxton, Love And Theft, and The Parks were dropped.
http://www.cmt.com/news/news-in-brief/1637143/covington-fowler-dickerson-follow-rascal-flatts-to-disney-music-group.jhtml