Concorde acquired what it says are “sure property” of Hitco Leisure, “together with (with restricted exclusions) its whole catalog of sound recordings and sure current releases”.

The corporate’s affirmation of its deal for the Los Angeles-based hip-hop and pop label confirms an article by Selection final month, which, citing a number of sources, reported that the music firm had been bought at Harmony.

Hitco Leisure is a Los Angeles-based unbiased document label based in January 2018.

The corporate was co-founded by a formerEpic Data LA Reid boss and entrepreneur Charles Goldstuck.

The agency’s artist signings embrace Outkast’s Massive Boi and Fifth Concord’s Dinah Jane, in addition to SAINT JHN and Yella Beezy.

SAINT JHN achieved main success in 2019 and 2020 with their hit Roses, which – by way of a remix by Imanbek – reached #4 on the chart. Billboard Scorching 100 within the US and topped the charts in Australia, Canada, New Zealand and the UK.

Along with its headquarters in Beverly Hills, Los Angeles, Hitco Leisure maintains US places of work in New York and Atlanta, Georgia.

Harmony’s acquisition of the HitCo label property follows information final month of its eight-digit acquisition from Australia and New Zealand based mostly music writer, Native Tongue.

MBW additionally understands that Harmony is within the race for the acquisition of the catalog of Pink Floyd.

Concorde spent about $1 billion on acquisitions throughout its first 14 years of operation.

She then spent two nine-figure sums to amass a the bulk wins in Impulse Music Group in 2020, and then the Think about Dragons Version Catalog, Entrance to amass Downtowncopyright portfolio of $400 million, in 2021.

MBW just lately interviewed CEO of Harmony, Scott Pascucciand president, Bob Valentineon the corporate’s return to the music M&A market, in addition to the corporate’s resolution to show down a $5 billion acquisition provide.The music business around the globe