Billboard.com report that Concord Bicycle Music has acquired both Fearless Records and the remaining catalog of Wind-Up Records (who had previously sold the rights to their more lucrative back albums to Concord Bicycle Music back in 2013.) Citing unnamed sources, Billboard report that the deal to purchase Fearless Records was allegedly around $10 million, with the label currently having an annual revenue of $15 million through the label, publishing and their own merchandising business. Artists currently signed to Fearless include Pierce The Veil, The Word Alive, Motionless In White and more. Meanwhile, bands currently on the Wind-Up roster that were part of the deal include Filter, Scott Stapp and more.
As is often the case with deals such as this, Concord plans to retain the majority of the staff at each label, including their individual presdent’s, while shuffling aspects of promotion, sales, etc. to Concord‘s own in-house staff.
