Coolio To Launch A Label

September 23 [14:00 EDT] -- Rapper Coolio has wrapped a deal to launch his own L.A.-based record company to be named Crowbar -- the same moniker as his management company -- says the Hollywood Reporter.

The first signings are most likely to be Thug Life alumni Rated R and the Crowbar-managed 40 Thevz, currently signed to Mercury.

Coolio will oversee all production and artistic development for a roster of three or four rap artists. The label will also have help from Coolio's wife, Josefa Salinas who currently heads the managment division.