McDermott Will & Emery represented Downtown Music Holdings in the transaction. Cains acted for Concord, and worked in conjunction with Reed Smith and DLA Piper.
Downtown Music Holdings (Downtown), a premier music publishing partner for songwriters, storied music catalogues and emerging artists, executed the sale of its music catalogue to Concord, an independent worldwide leader in the development, management and acquisition of sound recordings, music publishing and theatrical performance rights. This deal combines two of the largest independent music catalogues in the world.
The copyrights included in the transaction were developed or acquired by Downtown over the past 14 years and bring Concord’s owned and controlled music assets to over 600,000 works.
As part of the transaction, Downtown will continue to manage the global royalty collection for the affected copyrights through the end of 2021.
Raine Group acted as financial advisor to Downtown.
McDermott Will & Emery acted as legal counsel to Downtown with a team led by Wilson Chu (Picture) and Joanna Lin and included Thaddeus Chase, Elaine Kao and Matthew Chen.
The Cains’ corporate and commercial team was led by Tristan Head with support from Matthew Wilkinson and George Walmsley.
Involved fees earner: Tristan Head – Cains Advocates Limited; George Walmsley – Cains Advocates Limited; Matthew Wilkinson – Cains Advocates Limited; Thaddeus Chase – McDermott Will & Emery; Matthew Chen – McDermott Will & Emery; Wilson Chu – McDermott Will & Emery; Joanna Lin – McDermott Will & Emery; Elaine Kao – McDermott Will & Emery;