Concord Records, Inc. has announced (12/1) its acquisition of Fantasy; the two companies have been merged into a new entity called the Concord Music Group, Inc.
During the lengthy negotiations this summer and fall, longtime Fantasy president Ralph Kaffel has noted, "we got to know the principals and key employees of Concord quite well, which reaffirmed the correctness of our initial judgment that Concord is the proper home for our catalogs. Having spent fifty years in the record business, 33 of them at Fantasy building up the catalogs, my primary concern--as well as that of the other principals--was that the acquiring entity should have the proper understanding and respect for the treasure that we are turning over to them, and be willing to perpetuate the historical legacy these catalogs represent. With Norman Lear, Hal Gaba, Glen Barros, and all the other talented people now at the helm of the Concord Music Group, my colleagues and I are convinced the Fantasy catalog is in very good hands."
Crap. We're screwed.
Edit: read more, including the post this was copied and pasted from, here.