Concord Music Continues Spending Spree; Acquires Famed Jazz Label Savoy, 429 Records

Concord Music, whose recent acquisitions include Razor & Tie, Fearless Records and Imagem Music Group, has added legendary jazz catalog Savoy Label Group to its aggressive portfolio expansion.

Founded in 1942, Savoy Label Group includes the celebrated Savoy Jazz catalog and more than 3,000 master recordings, featuring landmark work from the likes of Charlie Parker, Dizzy Gillespie, Miles Davis, John Coltrane, Errol Garner, Cannonball Adderley, Dexter Gordon and Fats Navarro.

The SLG acquisition also brings in adult rock/alternative label 429 Records, whose roster features Meat Loaf, Boz Scaggs, LL Cool J, Mick Fleetwood, Robbie Robertson, Los Lobos, Little Feat, Cracker, Camper Van Beethoven, Dr. John, Bruce Hornsby, and Joe Cocker. The deal also encompasses more recent SLG recordings from Pat Martino, Etta James, Bill Frisell, Big Bad Voodoo Daddy, Larry Coryell, Ravi Coltrane and Milton Nascimento, as well as a classical catalog that boasts Dutch violinist Andre Rieu and recordings from the London Symphony & Philharmonic Orchestras, Berlin Symphony, the Moscow and Leningrad Philharmonic Orchestras and soloists Sviatoslav Richter and Alicia De Larrocha, among others.

At the same time, Concord Music has announced a multi-year consulting and production agreement with Savoy’s former owner, Steve Vining, under which he may deliver new recording projects to Concord’s various labels.

Since being acquired by Wood Creek Capital Management Group in March, 2013, from Village Roadshow Entertainment Group (and Norman Lear, who remains on as chairman emeritus) for $120 million, Concord Music has been on a spending spree. The company has acquired such indies as Wind-up Records, Tom Whalley’s Loma Vista Records, Vanguard and Sugar Hill, and merged with the music publishing company Bicycle Music Company in 2015. In June, Concord nabbed music publisher Imagem for $500 million, adding such artists as Daft Punk, Phil Collins, Mark Ronson, and Rodgers & Hammerstein to its catalog.

“Savoy is a great combination of both legendary masters and incredible recent recordings by a number of wonderful contemporary artists,” said Concord Music Chief Operating Officer Glen Barros. “We are so very proud that it is now a part of Concord Music. And as Steve Vining has done a great job of building Savoy over the recent past, we very much look forward to all that he will bring to our company in the future.”

Added Concord Music Chief Business Development Officer Steve Salm: “The addition of Savoy to Concord Music is consistent with our ongoing growth strategy, as it deepens our presence within a number of core genres. It also adds numerous classic recordings and another legendary brand to our great group of labels.”

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