Concord & Fantasy Records Merge

[Captain Bacardi]

This could be some interesting news for jazz fans. From the Jazz Times site:

Concord and Fantasy Merge

Concord Records and Fantasy announced Concord’s acquisition of Fantasy on Dec. 1. The two companies have merged to form Concord Music Group, Inc, which will be one of the largest adult-focused recorded music companies in the world, according to a press release.

Concord Records has spent its 31 years focusing on jazz, traditional pop and adult contemporary formats, best exemplified in its current multi-platinum release of Ray Charles’ last recording Genius Loves Company. Fantasy owns one of the largest catalogs of jazz, blues, R&B and rock, including John Coltrane, Miles Davis, Bill Evans, Ella Fitzgerald and Thelonious Monk. Fantasy also owns and operates Fantasy Recording Studios in Berkeley, Calif.

Regarding Fantasy’s acquisition, company president Ralph Kaffel said in a press release, “Having spent 50 years in the record business, 33 of them at Fantasy building up the catalogs, my primary concern…was that that acquiring entity should have the proper understanding and respect for the treasures we are turning over to them… at the Concord Music Group, my colleagues and I are convinced the Fantasy catalog is in very good hands.”

Former president and CEO at Concord and current president at CEO at Concord Music Group Glen Barros expressed a similar sentiment. “I am incredibly honored to be in a position to help carry the Fantasy legacy into the future,” he said in a press release.

As part of the transaction, private equity investment firm Tailwind Capital Partners will provide new equity capital to the Concord Music Group.



Capt. Bacardi

 

[jimac51]

I have very mixed feelings about this since Concord has deleted physical versions of tons of their straight ahead,Carl Jefferson-produced albums. There may be some real economic reasons for this but Fantasy,while owning much older and much more important catalog(early Miles,early and later Evans,Coltrane,Monk,Brubeck,Montgomery are just the tip)has its share of slow movers,too, but Fantasy deletions are rare. And they still have some vinyl left in the building. Interesting to see how many more $$$ the Creedence Clearwater Revival catalog can generate for keeping such great music alive. The whole setup being distributed by Universal should be a good thing-the Universal pipeline and Allison Krauss is what has kept Rounder afloat during these difficult indi label times. Its nice to have a hit-its nicer to be able sell it. Mac