Concord Music has acquired independent Latin music company Fania Records & Publishing from Miami-based Codigo Entertainment. The agreement includes approximately 19,000 master recordings and 8,000 compositions.
The latest deal follows a string of acquisitions and JVs for Concord, including Savoy Label Group and the big one - Imagem.
Fania’s master recording catalogue covers Latin big band, Afro-Cuban jazz, boogaloo, salsa and Latin R&B and includes artists such as Celia Cruz, Willie Colón, Héctor Lavoe and Rubén Blades. The master catalogue also features Pete Rodriguez’s I Like It Like That, currently sampled by Cardi B in I Like It.
The Fania publishing catalogue is home to writers including Louis A. Perez, Hugo César Blanco Manzo and Luis Diaz. The collection also encompasses songs sampled in Christina Aguilera’s Ain’t No Other Man and Shakira’s Hips Don’t Lie, which features on Now 100.
“Concord has made a very significant commitment to the acquisition and management of key Latin catalogues,” commented Steven Salm, Concord Music’s chief business development officer. “To have the opportunity to add a crown jewel of Latin music like Fania, with its incredible roster of artists and songwriters, excites all of us at Concord.”
“We are huge fans of Fania and its extraordinary musical legacy,” added Concord CEO Scott Pascucci. “As investors, the acquisition makes sense because of the growth in streaming and the demographic shifts in consumption – and we want to be at the forefront of investing in that shift. But, more importantly, we love the music and couldn’t pass on the opportunity to bring the music to future generations around the world.”
“It has been an honor and a privilege for my team and I to return this amazing catalogue and magical brand back to its rightful place in music history,” said Stuart Livingston, president and CEO of Codigo Entertainment.
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