Plain White T's, At The Drive-In, Bigwig, The Aquabats,
andSugarcult
, for a reported $10 million, according to Billboard.After purchasing Wind Up's catalog last year, Concord has now also added the rest of the company to its roster. The leadership and staff of both labels will reportedly remain largely intactThe official announcement:“Teaming with Concord provides operational backing and an experienced, committed support team which enables Wind-up to focus entirely on artist development, A&R, marketing and promotion,” stated Wind-up President and CEO, Ed Vetri. “I have been working closely with the executive management at Concord over the last few years. It’s clear they are dedicated to building a major independent music company, one that benefits independent labels and their artists. I’m confident that Wind-up will be well positioned in the U.S. and around the world, to break new alternative and rock artists over the next several years.” “Fearless has had many opportunities to be acquired by larger companies over the years and it had never seemed like the right fit, until now,” stated Fearless Records President Bob Becker. “Fearless and its roster of artists will be able to obtain a higher level of success, and still preserve our important role in the independent music community. I am looking forward to a long and successful relationship with the Concord Music Group.” Glen Barros, CEO of Concord Music Group stated, “The addition of Wind-up and Fearless illustrates our commitment to expand within the rock genre, a process which we began over the last couple of years. Both of these labels have demonstrated long-term success and are true leaders in their field. We are extremely proud to welcome them to the Concord family and look forward to working alongside their very talented teams.” Scott Pascucci, CEO of Concord Bicycle Music said, “Fearless and Wind-up fit perfectly within our aggressive growth strategies across publishing and recorded music. Ed and Bob will be great additions to Concord Bicycle Music and we look forward to working with them both. “ Additionally, the company recently disclosed it had raised $100 million of supplementary capital to fund future growth through continued music rights acquisitions and artist development investments. These moves position this now fully integrated recorded music and publishing powerhouse as one of the fastest growing independent music companies in the world.
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