Claude Posted June 10, 2004 Report Share Posted June 10, 2004 http://www.stevehoffman.tv/forums/showthread.php?t=34827 Quote Link to comment Share on other sites More sharing options...
ghost of miles Posted June 10, 2004 Report Share Posted June 10, 2004 Hmmmm..... Quote Link to comment Share on other sites More sharing options...
WD45 Posted June 10, 2004 Report Share Posted June 10, 2004 Hmmmm..... Yes. Hmmm... Where did Concord get that kind of money? Quote Link to comment Share on other sites More sharing options...
Eric Posted June 10, 2004 Report Share Posted June 10, 2004 There is a thread over at All About Jazz - says Concord is now owned by an entertainment conglomerate (my word - not theirs) owned in part by Norman Lear. Depends on how the deal was financed - Lear and Co could have just given Fantasy a piece of their company as compensation or they could have borrowed to finance part of the deal. Quote Link to comment Share on other sites More sharing options...
chris olivarez Posted June 11, 2004 Report Share Posted June 11, 2004 There is a thread over at All About Jazz - says Concord is now owned by an entertainment conglomerate (my word - not theirs) owned in part by Norman Lear. Depends on how the deal was financed - Lear and Co could have just given Fantasy a piece of their company as compensation or they could have borrowed to finance part of the deal. That's a possibility. If that's indeed the case this would make for a very interesting scenario. Quote Link to comment Share on other sites More sharing options...
Jazzmoose Posted June 11, 2004 Report Share Posted June 11, 2004 I don't know that Fantasy selling it's jazz catalog could be good; how could it be better than it is now? But it could have been a lot, lot worse... Quote Link to comment Share on other sites More sharing options...
B. Goren. Posted June 11, 2004 Report Share Posted June 11, 2004 I don't know that Fantasy selling it's jazz catalog could be good; how could it be better than it is now? But it could have been a lot, lot worse... Quote Link to comment Share on other sites More sharing options...
Matthew Posted June 11, 2004 Report Share Posted June 11, 2004 What's interesting is that I've always heard the comment that the sales of Creedence Clearwater Revival made possible the number of cds in print at Fantasy Jazz. Now there's no corporate connection between the two, which could gum-up the whole works. If I have my facts right -- which sometimes I don't. Quote Link to comment Share on other sites More sharing options...
Jim R Posted June 11, 2004 Report Share Posted June 11, 2004 I don't know that Fantasy selling it's jazz catalog could be good; how could it be better than it is now? Excellent point. This is what worries me. The other thing is, I haven't thought very highly of Concord in recent years. I'm not really a "label enthusiast", so I don't know exactly what all has transpired since Carl Jefferson's passing, but things have certainly gone downhill in terms of their overall catalog. They used to keep a lot of things in print, up until a few years ago... Quote Link to comment Share on other sites More sharing options...
wolff Posted June 11, 2004 Report Share Posted June 11, 2004 As more and more of the Fantasy jazz catalogue(Prestige/Contemporary/New Jazz/Bluesville, etc.) goes into the public domain in EU countries I have no idea why anyone would buy it. Concord will never be able to compete with the new companies(labels) focusing on these labels/performances/albums for re-issue. In a few short years all of Davis' and Coltranes' albums(Fantasy's biggest sellers) will have gone over to public domain in EU countries and re-issued. I'm sure certain Spanish and Italian public domain labels will be issuing their box set versions of the "Complete Prestige Recordings of..." soon. In about 2009, I'm sure the "Complete Prestige Recordings Gene Ammons" will be a decent seller for these public domain labels. US laws will mean little when a few clicks of the mouse will have these on my doorstep in a few days. Quote Link to comment Share on other sites More sharing options...
mikeweil Posted June 11, 2004 Report Share Posted June 11, 2004 I do not see any hint at the rock/pop and jazz catalogues being seperated by the deal. They had to call their web domain "Fantasyjazz" as "Fantasy" was no longer available. But the CCR recordings were displayed on the same site. No separation AFAIK. Concord is not the worst to take over, and it stays in California, the vaults probably will not be moved with all the losses and all involved. Quote Link to comment Share on other sites More sharing options...
Lazaro Vega Posted June 11, 2004 Report Share Posted June 11, 2004 And as much as independent labels will re-issue this, they won't be doing it from the original master tapes, which may give the label of ownership the possibility of adding more tracks, etc. Quote Link to comment Share on other sites More sharing options...
Peter Johnson Posted June 12, 2004 Report Share Posted June 12, 2004 US laws will mean little when a few clicks of the mouse will have these on my doorstep in a few days. Word! Quote Link to comment Share on other sites More sharing options...
brownie Posted June 19, 2004 Report Share Posted June 19, 2004 The deal has yet to be finalised. From Billboard/Reuters: Concord Records' Fantasy Coming True By Ed Christman NEW YORK (Billboard) - Now that jazz label Concord Records has beaten out more than a half-dozen suitors to win the auction of Fantasy Records, it needs to complete its due diligence and nail down the details of what could turn into a complex financial transaction.  Sources were divided about how much Los Angeles-based Concord bid to win the Fantasy prize, citing figures from $83 million to $91 million. The deal, a stock transaction, is expected to close in 45 to 60 days, a source familiar with the proceedings said. Fantasy declined to comment. Predominantly a catalog label that includes all the Creedence Clearwater Revival records and material by many jazz and soul greats, Fantasy had 2003 revenue of about $22 million. Fantasy label chairman Saul Zaentz leads the group -- which includes some Fantasy senior management -- that owns the label. When final bids were due June 3, Concord's was said to be the highest, with an $83 million offer. TV producer Norman Lear and Hal Gaba control Concord's ownership through their ACT III Communications company. Although some sources pegged Concord's winning bid at about $90 million, others familiar with the situation insisted it never upped the June 3 offer. Among the other suitors, Former MCA Records president Jay Boberg, Redux Records and Shout Factory each are said to have bid in the $70 million to $75 million range. Joe Bianco and Anil Narang control Redux, which through its Sheridan Square division owns Musicrama and a significant stake in Artemis Records. Also, Sony Music Entertainment is believed to have bid $70 million, contingent upon approval from its parent, Sony Corp. Rykodisc is said to have bid less than Sony. Warner Music Group is believed to have been the low bidder, weeded out because it was only willing to pay about $55 million. Sources said Concord has been seeking funding to pay for the acquisition and is believed to have reached an agreement in principle with the Tailwind Capital Partners fund run by Boston-based Thomas Weisel Capital Management LLC. Another source suggested that Concord and Tailwind still have a way to go before completing the deal, which means that finalizing the Fantasy acquisition could turn into a complex transaction. Even if Concord and Tailwind fail to complete the deal, other sources say Lear's Act III has the financial wherewithal to write a check for Fantasy. Quote Link to comment Share on other sites More sharing options...
Quincy Posted November 30, 2004 Report Share Posted November 30, 2004 It's a done deal. It's Norman Lear's baby now. Quote Link to comment Share on other sites More sharing options...
Claude Posted November 30, 2004 Author Report Share Posted November 30, 2004 Should I run and buy all the Fantasy CDs now, as Steve Hoffman suggests? Quote Link to comment Share on other sites More sharing options...
king ubu Posted November 30, 2004 Report Share Posted November 30, 2004 Should I run and buy all the Fantasy CDs now, as Steve Hoffman suggests? If you do, please send me a copy of each of them, ok? Now seriously: why always expect the worst? Quote Link to comment Share on other sites More sharing options...
mikeweil Posted November 30, 2004 Report Share Posted November 30, 2004 Here's a Reuters press release posted by Steve Hofman (see link in the initial post):Fantasy Is Now Reality for Concord Records Fri Jun 11, 2004 02:56 AM ET By Tamara Conniff LOS ANGELES (Hollywood Reporter) - Jazz label Concord Records has won the bidding war to acquire Fantasy Records in a deal worth about $90 million, sources said Thursday. A final due diligence needs to be completed before the deal is officially closed. Concord, which is owned by television producer Norman Lear of "All in the Family" fame, beat out several other contenders, including Sony Music. Concord Records declined comment. Fantasy could not be reached at press time. In February, Fantasy label chairman Saul Zaentz put the company up for sale. Its catalog includes recordings by such legendary acts as Chet Baker, Count Basie, Charlie Byrd, Creedence Clearwater Revival, Sam Cooke, Miles Davis, Thelonious Monk, John Coltrane, Ella Fitzgerald, Dizzy Gillespie, Isaac Hayes, John Lee Hooker, Etta James, Stan Kenton, Charlie Parker, Otis Redding and Lester Young. Concord Records is also the home to such artists as Karrin Allyson, Michael Feinstein, Ozomatli and Peter Cincotti. Reuters/Hollywood Reporter © Reuters 2004. All Rights Reserved. Here's the Reuers message linked just above: Concord Adds Creedence with Fantasy Records Buy Mon Nov 29, 2004 11:33 PM ET By Chris Morris LOS ANGELES (Hollywood Reporter) - Jazz label Concord Records, riding high with Ray Charles' last release, has sealed its acquisition of Fantasy Records, whose extensive holdings include the Creedence Clearwater Revival catalog. Details of the purchase -- which includes Berkeley, Calif.-based Fantasy's huge library of masters, its studios and its publishing interests -- were not divulged. Sources say Beverly Hills-based Concord, which is owned by Act III Communications, a firm headed by TV producer Norman Lear and his partner Hal Gaba, outbid other suitors for Fantasy with an offer of more than $80 million. The sale was agreed on in June, but Concord only finalized financing of the purchase this month. "It's so exciting," Concord president Glen Barros said in an interview Monday. "It's a new chapter for us. It takes us to a completely different scale." Fantasy, which was co-owned by film producer Saul Zaentz, boasts one of the last available storehouses of valuable independently held masters. Over the years it purchased the holdings of such top jazz, R&B and folk labels as Prestige, Milestone, Riverside, Contemporary, Debut, Pablo, Specialty, Stax, Takoma and Kicking Mule. "This is something we've always dreamed about," Barros added. "It's a sensational, sensational catalog . . . a treasure chest of incredible recordings." Founded in 1969 by the late Carl Jefferson, Concord owns its own catalog of 1,000 jazz and pop vocal titles. It has enjoyed a major hit this year with Charles' duets album "Genius Loves Company," which has sold nearly 1.2 million to date, according to Nielsen SoundScan. Barros said that Concord and Fantasy will consolidate over time, but will "in all likelihood be based in both Berkeley and L.A." With the completion of the deal, Fantasy's releases, previously distributed independently, will move to Universal, which started handling Concord product this year. Reuters/Hollywood Reporter © Reuters 2004. All Rights Reserved. The CCR recordings are included in this deal! Quote Link to comment Share on other sites More sharing options...
mikeweil Posted November 30, 2004 Report Share Posted November 30, 2004 Universal is handling the distribution - I don't know if that effects the catalogue as such. But considering the urgent tone of Steve Hofmann's warning, and the fact that so many Concord titles are unavailable, a much lower percentage of their catalogue is in print compared to Fantasy - well, I decided to buy the last Tjader and Don Patterson items missing in my collection months ago. Quote Link to comment Share on other sites More sharing options...
wesbed Posted November 30, 2004 Report Share Posted November 30, 2004 I've been buying the hell out of the K2s in the last several weeks. Not because of the sale of Fantasy Records, rather, just because I was in the mood to purchase some K2s. I don't have all the K2s but I do have quite a number of them. I've had to purchase most of my K2s via the internet. Hopefully, it won't matter and the K2s will continue to be just as available as they have been (meaning, the Fantasy product won't become more difficult to locate). Quote Link to comment Share on other sites More sharing options...
J.A.W. Posted November 30, 2004 Report Share Posted November 30, 2004 Should I run and buy all the Fantasy CDs now, as Steve Hoffman suggests? Hoffman is referring to the regular OJCs, not the K2s, which he doesn't like at all because of the bumped-up highs. Quote Link to comment Share on other sites More sharing options...
LAL Posted December 1, 2004 Report Share Posted December 1, 2004 Just ordered the Coltrane box last week. Thinking of getting the Monk, Tatum, Art Pepper, Joe Henderson sets and of going broke before the year end... Quote Link to comment Share on other sites More sharing options...
Christiern Posted December 1, 2004 Report Share Posted December 1, 2004 I agree that Concord started going downhill after Carl Jefferson's death. He was a very successful car dealer with a passion for jazz and it was his Concord Jazz Festival, a labor of love, that led to his forming the record company. I don't recall the details, but he offered artists a deal in which they maintained part ownership of their own recordings. I had many long conversations with Carl and I will always remember the last call I received. He was in New York to supervise a session. He told me that this might well be his last visit to the city and that he would greatly appreciate it if I could come down to the studio--he'd even pay the cab fare. I would have none of that, of course, but I did hop a cab right away, having sensed some urgency in Carl's voice. What I saw when I walked into the control room was Carl, his wheelchair pulled up to the console (I didn't know he was confined to a wheelchair) and tubes in his face from a large cannister. Carl was close to death, yet he had flown here from California to do what he so enjoyed doing, make another album. It was a two-guitar session, but I can't recall who the artists were. Not long after that last meeting, I learned of Carl's death. I really fear that the people who turned Concord into a "concept" collection assembly line and callously (not to mention, foolishly) dumped my friend, Susannah McCorkle will now treat the Fantasy material with equal insensitivity. Let's hope I'm wrong. BTW, the week of 9/11/01, when my friend Karl Knudsen was staying with me, he received a faxed offer of a million dollars for his Storyville catalog from Fantasy. It was an insulting sum and I was glad to see Karl immediately turn it down. So, at least the Concord "conglomerate" will not get it's hands on that treasure--or will they? One never knows, we are fast heading for one big record industry monopoly, aren't we? Quote Link to comment Share on other sites More sharing options...
BruceH Posted December 1, 2004 Report Share Posted December 1, 2004 Yep, we are. Sad to say. Quote Link to comment Share on other sites More sharing options...
Chuck Nessa Posted December 1, 2004 Report Share Posted December 1, 2004 I suggest we all keep a keen eye out for "product dumps" at the usual wedsites. Quote Link to comment Share on other sites More sharing options...
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