Gaylord to Buy Word Records

Gaylord Entertainment Co. agreed to buy Word Records & Music from Thomas Nelson Inc. for $110 million, a deal that would expand its presence in contemporary Christian music. Word Records, with annual sales exceeding $100 million, is one of the largest contemporary Christian music companies. It was acquired four years ago by Thomas Nelson and had been seeking a partner to help distribute and market its library of 40,000 songs and its stable of stars, including Amy Grant and Sandi Patty. Gaylord, owner of the Nashville Network, Opryland USA and other entertainment properties, also owns Z Music Television, a 24-hour cable TV network devoted to Christian music. Contemporary Christian music is considered the fastest-growing music category in the United States. Both companies are based in Nashville. The transaction is expected to close in early 1997.