Concord Acquires Telarc

[spinlps]

FYI... the empire grows larger...

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CONCORD MUSIC GROUP ACQUIRES TELARC INTERNATIONAL & SUBSIDIARY LABEL HEADS

UP

Acquisition Strengthens Concord's Position as One Of The Industry's

Preeminent Independent Labels

The Concord Music Group today announced the acquisition of Telarc

International Corporation. The Cleveland, Ohio-based Telarc has been

a leader in classical and jazz recordings for over 25 years.

Included in the transaction is Heads Up International, which became

part of Telarc in 2000. Heads Up is known for its highly successful

catalogue of contemporary instrumental and world music. Following

the recent acquisition of Fantasy Records, this transaction further

bolsters the Concord Music Group as one of the world's largest and

most dynamic independent record companies.

Founded in 1977 by musicians and former teachers Bob Woods and Jack

Renner, Telarc has amassed 46 GRAMMY awards and a catalogue of

more than 1,000 master recordings ranging from classical and

classical-crossover to jazz and blues, from such legendary artists as

Dave Brubeck, George Shearing, Ray Brown, Andre Previn, and Oscar

Peterson. The current jazz roster includes celebrated

singer/guitarist John Pizzarelli and vocalist Tierney Sutton.

Telarc's extraordinary classical roster includes landmark recordings

from the Atlanta Symphony Orchestra and Chorus, the Cincinnati

Symphony, and Cincinnati Pops Orchestras, and the Mormon Tabernacle

Choir. Artist-oriented and known throughout the industry for sonic

innovation and super-high quality audio, Telarc became the first

label to commercially use digital recording in 1978, and, in 1983,

was one of the first to launch compact discs in a joint effort with

Sony Corporation. In 2004, Telarc was named Label of the Year by

Gramophone Magazine in the UK.

Heads Up International's roster, headed by founder and label

president Dave Love, includes internationally respected artists such

as Spyro Gyra, Najee, Michael Brecker, The Yellowjackets, and highly

acclaimed world music artists Ladysmith Black Mambazo and Hugh

Masekela. Both Telarc and Heads Up have a significant number of

recordings in high definition and Super Audio Compact Disc (SACD)

format, based on the superior Direct Stream Digital recording

technology.

"The cultures of our companies are very similar and we see lots of

synergies through the merging of our talented staffs and our mutual

goals," says Telarc president Bob Woods. "Glen Barros and I have

known each other for some time and I respect the creative indie

mentality our companies share, which allows us to respond quickly to

the constant change and abundant opportunities in our industry.

We'll be a larger entity, but we won't move slowly. "Besides," Woods

added, "Telarc and Heads Up are certain that they will kick Concord's

butt in the company softball game."

Glen Barros, president and CEO of the Concord Music Group, said, "We

are incredibly proud to welcome Telarc and Heads Up to the Concord

family, as we truly admire these great labels. Telarc's history of

impeccable audio and musical standards has made it one of the world's

most respected independent labels and we are honored to be the ones

chosen to safeguard this rich legacy. As with all great record

companies, Telarc and Heads Up are built on a solid foundation of

great artists and great people. We truly look forward to working

alongside Bob Woods, Dave Love, and their talented team and know that

they will make a great contribution toward the achievement of our

mutual goals." Added Barros, "The only thing I'm worried about is

how Bob is going to take the news when he finds out that there is no

company softball game."

The Concord Music Group is one of the world's largest independent

record and music publishing companies, committed to offering

innovative, high quality popular music. Concord Music Group's family

of labels includes Peak, Playboy Jazz, Stretch, Concord Picante, and

Fantasy Records, which is home to such historic imprints as

Milestone, Pablo, Prestige/New Jazz, Riverside/Jazz Land,

Stax/Volt/Enterprise, Specialty, Takoma and many more. The combined

catalog features over 3,000 albums from such legendary artists as

Charlie Byrd, Rosemary Clooney, Herb Ellis, Stan Getz, Mel Torme,

John Lee Hooker, Little Richard, Gerry Mulligan, Chet Baker, Miles

Davis, Bill Evans, Ella Fitzgerald, Isaac Hayes, Albert King,

Thelonius Monk, Joe Pass, Art Pepper, Otis Redding, Vince Guaraldi,

Sonny Rollins, Sarah Vaughn, Sam Cooke, Count Basie and Creedence

Clearwater Revival, just to name a few. In 2004, Concord Records, in

association with Starbucks Hear Music, released Ray Charles' final

recording, Genius Loves Company, winner of 8 GRAMMY Awards

including Album of the Year. The label's current roster includes

GRAMMY Award-winning artists Gary Burton, Chick Corea, Sergio

Mendes, Ozomatli, Eddie Palmieri, and Poncho Sanchez, among many

others. Peak Records, a joint venture with Concord, is an industry

leader in smooth jazz and R&B and features a stellar artist roster

including The Rippingtons, Gerald Albright, David Benoit, LaToya

London, and Lee Ritenour.

Concord's acquisition of Fantasy late last year paved the way for the

re-signing of rock icon John Fogerty after years of estrangement from

Fantasy. As founder and songwriter of the legendary band Creedence

Clearwater Revival, and throughout a stellar solo career, Fogerty has

written some of rock music's most enduring classics such as "Bad Moon

Risin'," "Proud Mary," and "Fortunate Son." The Long Road Home, the

ultimate Fogerty/Creedence collection, was released on November 1st,

2005.

Concord Music Group is owned by Act III Communications and Tailwind

Capital. HSBC Bank USA, N.A. and JPMorgan Chase provided debt

financing for this transaction.

[Free For All]

The "Conquered" Music Group

[GA Russell]

Five years ago Telarc had some blues acts like Kenny Neal, who is one of my favorites. Maybe they are still on the roster.

I gave my sister Tierney Sutton's then-current album for Christmas last year, and I saw last week that her follow up has been nominated for the Jazz Vocal Grammy.

Other than Manhattan Transfer and John Pizzarelli, I'm not sure who is on Telarc anymore.

I guess this Heads Up International's roster is impressive for smooth jazz. I don't know how well the acts mentioned in the press release sell anymore. Do smooth jazz fans still buy Spyro Gyra and Najee?

[Kalo]

So does this mean that we have to start snapping up all of the Telarc "Unoriginal Jazz Non-Classics" issues?

[mikeweil]

I hope this Concord music group will not get big enough to become an attractive bait for any of the few majory left .....

[John Tapscott]

So does this mean that we have to start snapping up all of the Telarc "Unoriginal Jazz Non-Classics" issues?

I think what it means is that if there are some Telarc releases on your "want" list, you'd better buy them NOW!

In the corporate world, the buying of a smaller company by a larger company INEVITABLY means the reduction of the smaller company to a mere shell. Count on it. Darwin's theory sure works in the area of economics!

[tjobbe]

...... Darwin's theory sure works in the area of economics!

mhhh, I though we have overcome the theory of Darwin...we call it now business intelligence.

Cheers, Tjobbe

[WD45]

Haven't Jim Hall's most recent new releases been on Telarc?

And when do you stop being an independent and transition into indie-gobbling corporate megalith?

[The Magnificent Goldberg]

And when do you stop being an independent and transition into indie-gobbling corporate megalith?

A decade or so ago, in Concord's case. I understand the company was acquired by a corporate called Alliance Entertainment in the mid 1990s. Alliance tried and failed to buy Fantasy at that time for $100 million, so they bought Concord as (IMO very) second best.

Independent in the record industry just means that the firm doesn't have its own distribution chain in the USA. MGM was technically an independent. So was ABC. Capitol was a small firm, owned by Johnny Mercer, Buddy DeSylva and Glenn Wallichs, when it started, but had its own distribution from the beginning, so was technically a major.

MG

[Ken Dryden]

I think that Telarc already deleted some jazz titles on their own over the years. I believe that Dave Brubeck remains their topselling jazz artist. I don't know how heavily the new owner will cut the Telarc catalog, but fortunately, I own every Telarc jazz release that I want.

Jim Hall's most recent 2 CDs have been on the limited edition Artistshare label.