Concord Grows Theatrical Catalog Business With Broadway Licensing Global Acquisition
Concord said Friday it agreed to buy Broadway Licensing Global (BLG) in a deal that further expands the independent recorded music and publishing company’s market-leading position owning and licensing theatrical scores, according to a press release.
BLG’s family of companies includes Broadway Licensing, Dramatists Play Service, Playscripts and Stage Rights, will be incorporated under Concord Theatricals. However, the acquisition agreement does not include Stageworks and Broadway On Demand streaming service. The price and other details of the transaction were not disclosed.
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As owner of Rodgers & Hammerstein Theatricals, Tams-Witmark, Samuel French and The Andrew Lloyd Webber Collection, Concord is among the largest theatrical rights holders and producers of stage shows in the world. The BLG deal further expands its market dominance.
Concord Theatricals has the exclusive stage licensing writes to Tony-award-winning shows like Hadestown and has released music from current Broadway hit shows like Death Becomes Her. The division of Concord works with creators and producers of plays and musicals on matters like theatrical licensing, music publishing, script publishing, cast recording and producing.
Founded in 2017, BLG and its umbrella companies represent legendary authors and rightsholders including Tennessee Williams, Sam Shepard, Alan Menken, Arthur Miller, Lauren Gunderson, John Leguizamo, Harry Potter Theatrical Productions, Hasbro and Mischief Worldwide.
“Concord’s mission is to champion authors by promoting and protecting their work and empowering theater makers to help their shows reach audiences worldwide,” said Sean Patrick Flahaven, Concord’s chief theatricals executive in a statement. “Bringing together these catalogs combines 150 titles and 400 authors that are already shared between the companies, as well as creating new relationships.”
Concord’s advisors on the deal were Stephen Sessa and Ross Williams of Reed Smith, Carolyn Casselman of Davis Wright Tremaine, Pedro Miranda Lopez of KPMG, and Lisbeth Barron of Barron International Group, as exclusive financial advisor.
BLG was advised by Goldman Sachs & Co. LLC and Jeffrey Horwitz, Lara Miller and Laura Addicott from Proskauer Rose.
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