Disney is shutting down a venture that is barely a year old, Carolwood Records.

Sister label to Lyric Street (home of Rascal Flatts, Sarah Buxton, SHeDaisy and Bucky Covington), Carolwood boasted an impressive roster that included Love and Theft, Trent Tomlinson and Jessica Andrews. Both Love and Theft and Trent will move to the Lyric Street roster. There's no word yet on where Jessica, who was the first artist signed to Carolwood, will go. She was working on a new album, featuring Rascal Flatts' Jay Demarcus as producer, when the label closed.

Love and Theft were certainly a success story for Carolwood, with the trio's debut single, 'Runaway,' reaching the Top Ten. A new EP from Trent Tomlinson is expected on Nov. 24.