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harmony It has acquired what it says is “certain assets” of Hitco Entertainment “including (with limited exclusion) its entire catalog of recordings and certain recent releases.”
The company confirmed its deal with the Los Angeles hip-hop and pop label, confirming an article from type Last month, the paper cited multiple sources saying the music company had Sell to Concord.
Hitco Entertainment is a Los Angeles-based independent record label founded in January 2018.
The company was co-founded by formerepic records Owner LA Reid and Entrepreneur Charles Goldstark.
Artists signed by the company include Big Boi from Outkast and Dinah Jane from Fifth Harmony, as well as SAINT JHN and Yella Beezy.
SAINT JHN has had major success in 2019 and 2020 with his hit Roses, which – remixed by Imanbek – in billboard The Hot 100 in the US tops the charts in Australia, Canada, New Zealand and the UK.
In addition to its headquarters in Beverly Hills, Los Angeles, Hitco Entertainment has U.S. offices in New York City and Atlanta, Georgia.
Concord’s acquisition of HitCo’s label assets follows news last month Eight-figure acquisition Native Tongue, a music publisher from Australia and New Zealand.
MBW also understands that Concord is in operation Directory used to acquire Pink Floyd.
harmony Estimated cost of $1 billion Acquired during its first 14 years of business.
Then it paid two nine-figure sums to get one majority stake exist Pulse Music Group 2020, and Then Imagine Dragons Publishing Catalog, formerly Obtain city ​​centerThe 2021 rights portfolio is $400 million.
MBW recently be interviewed Chief Executive Officer of Concord, Scott Pascucciand the President, Bob Valentineabout the company’s return to the music M&A market and its decision to reject a $5 billion takeover offer.Global Music Business
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