INTERNATIONAL NEWSNEWS

Concord to acquire Stem in $50m+ deal

Music Business Worldwide hears that Concord is very close to making another significant acquisition.

Our sources tell us that the company is in the final stages of acquiring Stem, a Los Angeles-headquartered music distribution and payments platform, in a high eight-figure deal, above $50 million.

The deal isn’t quite done yet, according to our sources. We also hear that The Raine Group is in the middle of it.

This news arrives around four months after Concord successfully closed an asset-backed securities (ABS) transaction, which saw the company raise $850 million in debt financing through a private securitization backed by its catalog of music rights.

Related posts

Sigur Rós Sign to BMG for Surprise Drop of First Album in a Decade

Team R2R

“Jahaan Pe Dil Hain” by Kanishk Seth is a Definite Addition To Your Road Trip Playlist

Team Raga2Rock

TM Music’s Audio Only Launches Talented Artists in a Grand Event

Team Raga2Rock

Leave a Comment