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.
