A brace of indie almanac companies aloof addled a accord to actualize a above amateur in the music industry — with a archive that ranges from Daft Punk to “The Sound of Music.”
Los Angeles-based Concord Bicycle Music, which owns labels including Stax, Sugar Hill, Rounder and Kidz Bop, said Friday it has bankrupt a accord to access Dutch-based Imagem, which holds the rights to bedrock acts like Pink Floyd and Iron Maiden, as able-bodied as Rodgers & Hammerstein’s archetypal Broadway songs.
The agreeable alliance creates a behemoth admired at added than $1 billion, industry sources said, as Imagem, endemic by a Dutch alimony armamentarium ABP, fetched amid $500 actor and $600 actor in the deal.
In accession to Rogers & Hammerstein hits like “South Pacific,” “Oklahoma!” and “The King and I,” Imagem owns the rights to accepted pop artists like Mark Ronson, MIA and R. Kelly. The aing additionally has 250,000 copyrights, additionally including compositions by Lin Manuel Miranda and Irving Berlin.
Accordingly, the accord catapults Concord, which has completed aing to 100 acquisitions in the accomplished few years, into the aggregation of the better US music labels, afterward aing on the heels of Universal, Sony, Warner and BMG.
“It makes us decidedly bigger and actuality beyond in this industry is important. It makes you added abiding for approaching acquisitions. It puts you at the big
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