Billboard Magazine has broken the news that Concord has acquired Victory Records. Founded by Tony Brummel in 1989, Victory has been at the forefront of alternative music introducing bands like Taking Back Sunday and A Day To Remember, amongst others, to the world. Though the price of the deal was not disclosed, Billboard estimated that the label was worth $27-$34 million. In addition to that, Concord also acquired assets from Another Victory publishing division.
Concord Chief Business development officer Steve Salm commented:
Concord is a market leader across rock genres in both new releases and catalog. 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.
Founder Tony Brummel commented on the deal:
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.
Concord have also acquired Fearless Records in 2015.