Concord Music buys Savoy Label Group
Concord Music has acquired Savoy Label Group. The catalog deal brings more than 3,000 master recordings to the company. These include older ones by such artists as saxophonists Charlie Parker and John Coltrane, and trumpeter Miles Davis and Dizzy Gillespie, as well as newer ones by such acts as vocalist Etta Jones, and guitarists Bill Frisell and Larry Coryell.
Savoy Records was founded in 1942 and was home to some of the jazz world’s most iconic artists. Steve Salm, Concord Music chief business development officer, said in an official statement: “The addition of Savoy to Concord Music is consistent with our ongoing growth strategy, as it deepens our presence within a number of core genres. It also adds numerous classic recordings and another legendary brand to our group of labels.”
The acquisition of Savoy follows Concord’s acquisition if Imagem Music Group, which took place in June and made Concord the world’s fifth largest integrated music company. Billboard reports that, prior to this deal, Concord’s music portfolio “includes more than 10,000 album recordings, while its publishing arm oversees more than 380,000 copyrights.”