Concord has completed its acquisition of the catalogues previously owned by the Round Hill Music Royalty Fund.
The board of the publicly listed fund, which was set up and managed by Round Hill Music, confirmed it had negotiated a $468.8 million deal with Concord back in September. Shareholders in the fund then approved that transaction last month.
The acquired catalogues include songs written and/or recorded by The Beatles, Alice In Chains, The Offspring, Elvis Presley, Meatloaf, James Brown and Billie Holiday. Concord also gets a stake in the Carlin Catalogue, which includes songs made famous by the likes of Johnny Cash, Aretha Franklin, Ella Fitzgerald, Peggy Lee and George Harrison.
Confirming the acquisition was now completed, Concord CEO Bob Valentine said: “The entire team at Concord is THRILLED to be able to represent these iconic catalogues. It is now our obligation to expose these songs and recordings to an even larger audience than their existing extraordinary fanbases. Furthering the cultural impact that these works have is certainly a responsibility we take seriously".
“Since our inception", he added, "Concord has demonstrated a clear track record of preserving the legacy of our artists while leveraging new and innovative opportunities to create new fans. I can’t wait to see what our global creative teams of sync, licensing, marketing, copyright and royalty experts come up with next".
