Kevin Morrow, Live Nation’s SVP of Touring, today announced he is stepping down to focus on the formation of a new entertainment company with Vanguard/Sugar Hill label vet Kevin Welk. Their new strategic partnership, Steel Wool Entertainment & Media, is a joint venture focused on creating strategic alliances with artists and content owners.

The new company will officially opens its doors on Monday, Oct. 22 in Los Angeles and will operate out of the Welk Music Group offices. Steel Wool’s first client is emerging hip-hop artist George Watsky, whom Morrow also manages.

Morrow, a two-time Pollstar “Talent Buyer of the Year” award winner, has worked for nearly 30 years in the music industry as a marketing executive, talent manager, and concert promoter. He was appointed President of Live Nation’s New York office in 2007 and previously worked as a Senior Vice President of Tours & Talent for House of Blues Entertainment. As President of Welk Music Group, Kevin Welk oversees all aspects of their worldwide recorded music operations, including Vanguard Records, Sugar Hill Records, Ranwood Records and the WMG distributed label group.

“Welk’s one of the best,” said Morrow in a statement, “and I’m thrilled that he understood we were looking for a cooperative venture, not one where George would “sign” a traditional label deal but one where we’d all sign together – as partners in a new model.” [AlLindstrom]