Trent Tomlinson and Love and Theft will be moved to Lyric Street Records following this week's closure of Carolwood Records. Both are owned by the Disney Music Group. Carolwood was created last year as a sister label to Lyric Street. Three Carolwood staff members are exiting the company because of the closure, and three others will join Lyric Street's operations. The Lyric Street artist roster includes Rascal Flatts, Bucky Covington and SHeDAISY.