Disney Shutters Lyric Street

DISNEY SHUTTERS LYRIC STREET: In yet another blow to the Nashville music community, Disney Music Group will close its Nashville-based Lyric Street Records, home of multi-platinum artists Rascal Flatts, along with SHEDaisy, Aaron Tippen and American Idol alums Josh Gracin and Bucky Covington. Said DMG Chairman Bob Cavallo: “The Lyric Street team has had an amazing run 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.” A core promotion team will continue in place in the transition, with Rascal Flatts transitioning to another DMG label for the launch of their new album in the fall, the last under their current deal. As part of the move, label head Randy Goodman, who worked with Joe Galante and Butch Waugh at RCA, will reportedly leave the company. (4/14p)