Willie Nelson will launch his own record label, Pedernales Records, with 40 Points -- a band fronted by sons Lukas and Micah Nelson -- as the first artist signing. Nelson has partnered with longtime manager Mark Rothbaum and producer James Stroud to form the label. The first album by 40 Points, featuring a guest appearance by Willie Nelson, will be released this summer. The label will be officially announced Friday (March 16) at a press conference during the South by Southwest (SXSW) music conference in Austin, Texas. The media event will also feature a performance by 40 Points.