Manatt represented Downtown Music Holdings, the global independent rights management and music services company, in its sale of 145,000 copyrights to Concord Music.
The Downtown acquisition is Concord’s most significant purchase in years, capturing Downtown’s entire owned and/or co-published music catalog, including music from performers like Aretha Franklin, Lady Gaga, Beyoncé, Stevie Wonder, David Bowie and Adele. As a result of its catalog sale, Downtown is now no longer a significant copyright owner, and will instead focus exclusively on the fast-growing music services sector.
Manatt’s team was led by Manatt Entertainment partner Jeff Biederman and associate Beau Stapleton, with support from corporate and finance associate Jonathan Simmons. Manatt worked alongside McDermott Will & Emery LLP on the deal.
To learn more about the acquisition, read the announcement from Downtown.
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