According to a published report from Billboard,Concord, the purveyor and manager of indie music labels across a spectrum of genres has acquired Victory Records, the long-running Chicago-based punk and emo label founded by Tony Brummel in 1989. As part of the deal, Concord has also acquired Brummel’s Another Victory Publishing catalog. The acquisition includes approximately 4,500 master recordings and 3,500 compositions. Terms of the deal weren’t disclosed, but Billboard estimates Concord paid somewhere in the range of $27 million-$34 million for the Victory company. Victory also owns its own merchandising arm and warehouse, but no word yet on whether the deal covers those assets too.
“Concord is a market leader across rock genres in both new releases and catalog,” commented Steven Salm, Concord’s chief business development officer. “Tony’s dedication to Victory and the development of talent within these rock genres of metal, emo and hardcore as a true independent operator is incredibly admirable and he’s made a very significant impact in that world.
“Tony and I have gotten to know each other over the years and all of us at Concord very much look forward to being the next creative managers of the Victory masters and publishing catalogs as well as insuring all of the artists that have been part of Victory feel very much at home at Concord.”
Brummel said: “I have had the pleasure of knowing Steve Salm and the Concord team for a few years now. My dealings with Steve and Concord have been nothing but enjoyable. Concord has a great team, infrastructure and the financial backing and support to do great things with the music and entertainment assets that they represent.
“Victory and Another Victory’s great catalog of music and songs will be in caring and fantastic hands going forward. We’ve had a great run and with Concord it will only continue. My team at Victory will be remaining intact as we embark, going forward, on our new and existing business journeys.”