Racal Flatts' record label Lyric Street is being phased out by its parent company, Disney Music Group. According to the Wall Street Journal, the Flatts will be transitioned to another Disney label for the release of their new album later this year. It's reportedly their last album on their current contract with Disney. Lyric Street was also the label home of Bucky Covington, Love and Theft and Sarah Buxton. There's no word on their fates just yet.
News like this always saddens me especially when my friends at the labels lose their jobs. I pray they'll find something new and that the artists will be signed to new labels soon.