Concord is at the bidding table for Pink Floyd’s catalog bundle (which doesn’t include music publishing rights)

The story Pink Floyd buys a music copyright catalog that’s just getting bigger and bigger.

Last week, Financial Times reported that Blackstone is supported Hipgnosis Song Management is in a race to get the catalog, according to which the band is said to want an additional £400m.

The report says other parties still in talks to buy the catalog are: Main wave, BMG, Sony Music Groupand Warner Music Group.

MBW did some research and discovered that – although the names are correct – there was one important group that was missed in that parade: Concord.

We are told by reliable sources that US-based Concord (which is largely owned by Michigan Retirement Systems) remains a strong contender for the Pink Floyd rights package and is in discussions with representatives. band representation.

Concord has some history with Pink Floyd, followed by the company acquired Imagem for between $500 million and $600 million in 2017.

Imagem became global administrator for songs by David Gilmour, Nick Mason and Richard Wright in the band’s catalog in 2013.

The price Concord paid Imagem in 2017 is also relevant here: MBW was told that Floyd looks likely to sell – if they sell – their portfolio is somewhere in the same price bracket ($500 million to $600 million).

A senior source close to one of the companies at the negotiating table told MBW: “Getting an offer of nearly $600 million here is certainly not out of the question. Over $500 million seems like a safe bet at this point. “

Another important clarification from some of the reports that fell through last week: The rights package is currently being negotiated, we say from multiple sources, including the entire collection of Pink Floyd’s rights, plus neighborhood permissions, plus ‘name and same rights’ permissions – but yes NOT including the band’s music publishing rights (at this stage anyway).

Concord’s most recent nine-figure acquisition took place last year when it acquired the entire portfolio of rights to Concord Downtown Music Holdings for about 400 million USD.

The company has been no stranger to nine-figure acquisitions in recent years, spending more than $100 million a year on a career that spans Catalog Imagine Dragons and majority stake in Based on LA PULSE – both in 2020.

In the year following the Downtown acquisition, Concord was quiet on the M&A front.

During that period, which has now expired, the company and its parent company are weighing offers to sell to Concord. Sales achieved 5 billion dollars – but were ultimately rejected.

Now that the book is over on that sell exploration, Concord has gone back to buy mode: Over the past few months, the company has announced buy back eight figures by Native Tongue, while it also acquired LA-based HitCobased on Diversity.Worldwide music business