Hopeless Records is acquiring Fat Wreck Chords, merging two iconic punk labels and paving the way for fresh releases while artists get a clean slate on their finances.

His record label, Bad Boy Records, is just one source of his former empire. Musicians like Faith Evans, Janelle Monáe, and Machine Gun Kelly were once signed to the label.

Angry Mob Music Group, the Los Angeles-based independent music publisher known for its artist-centric approach, has ...