A Migos and Young Thug mixtape would undoubtedly set the streets, a significant segment of the internet, and the corner of the DJBooth office where Brendan sits, on absolute fire, but fans hoping for the arrival of a MigosThuggin project just had their hopes and dreams Mutombo'd by 300 Entertainment president Lyor Cohen. As Migos-member Offset recently explained in an interview with VladTV:
"Lyor froze it, man. We couldn't, we can't do it right now... That was gonna be a big project, too, but Lyor blocked the play. He ain't with it. He ain't stamp it. So we couldn't go through with it."
As you may recall, this roots of this dysfunctional artist-label family tree reach back to a couple months ago, when Migos announced that they were off 300 Entertainment, and Lyor Cohen said that he had no idea what they were talking about. We haven't heard any real updates on Migos' label situation since then, but if Lyor can pump the brakes on project releases, he obviously won. As a general rule, Lyor gets what he wants.
When pressed for more details, Offset went on to clarify that Migos aren't signed to the label as a label but are still signed for distribution, and their lawyers are hard at work trying to sort out the mess. If that's true it's extremely unusual for a distributor to be able to block a release entirely, but again, see above regarding Lyor routinely getting his way. And let's not forget that Young Thug is also signed to 300 Ent. as part of Thugger's impossible to understand mix of deals that also includes 1017, Atlantic, and however Birdman's managed to get himself involved. To put it in music industry professional terms, the whole thing's a giant clusterfuck.
In his bio on the 300 site, Lyor writes that he's "hell-bent" on removing publicists, managers, and labels from the equation so he can bring artists and fans directly, which might be true in part, but he's obviously also hell bent on keeping his business' bank account bulging. So to all those hoping for that MigosThuggin project in their lives soon, don't hold your breath.