Concord Music has acquired renowned independent Latin music company Fania Records and Publishing from Miami-based Codigo Entertainment.
The acquisition includes approximately 19,000 master recordings and 8,000 compositions.
Fania’s master recording catalog covers genres such as Latin big band, Afro-Cuban jazz, boogaloo, salsa and Latin R&B and includes artistic giants such as Celia Cruz (pictured), Willie Colón, Héctor Lavoe and Rubén Blades.
With the creation of the international supergroup known as the Fania All-Stars, the label’s signature musical style became known as the “Fania Sound.”
Fania’s rich master catalog also includes the Pete Rodriguez’s boogaloo classic “I Like It Like That,” currently sampled by Cardi B in her #1 hit “I Like It.”
The Fania publishing catalog is home to such writers as Louis A. Perez, Hugo César Blanco Manzo and Luis Diaz and also features classics penned by Tite Curet Alonso including “Anacaona” and “Periodico de Ayer” along with Héctor Lavoe’s “Aguanile.”
The collection also encompasses songs sampled in Christina Aguilera’s “Ain’t No Other Man” and Shakira’s “Hips Don’t Lie.”
Additionally, three Fania recordings, Celia & Johnny by Celia Cruz and Johnny Pacheco, Azucar Pa’ Tiby Eddie Palmieri and Live at Yankee Stadiumby the Fania All-Stars, appear in the National Recording Registry, a list of sound recordings that are described as “culturally, historically or aesthetically important, and/or inform or reflect life in the United States.”
“Concord has made a very significant commitment to the acquisition and management of key Latin catalogs.”
Steven Salm, Concord
“Concord has made a very significant commitment to the acquisition and management of key Latin catalogs,” commented Steven Salm, Concord Music’s Chief Business Development Officer. “To have the opportunity to add a crown jewel of Latin music like Fania, with its incredible roster of artists and songwriters, excites all of us at Concord.”
“We are huge fans of Fania and its extraordinary musical legacy,” stated Concord CEO Scott Pascucci. “As investors, the acquisition makes sense because of the growth in streaming and the demographic shifts in consumption — and we want to be at the forefront of investing in that shift.
“But, more importantly, we love the music and couldn’t pass on the opportunity to bring the music to future generations around the world.”
“It has been an honor and a privilege for my team and I to return this amazing catalog and magical brand back to its rightful place in music history,” said Stuart Livingston, President and CEO of Codigo Entertainment.
Concord’s deal team was led by Chief Operating Officer, Glen Barros, and Chief Business Development Officer, Steven Salm. Counsel to Concord was Reed Smith, led by Stephen Sessa and Christopher Sheaffer.Music Business Worldwide