Score Another Successful Transaction for M&R: Music to Our EarsPDF
Michael Poster, Chair of M&R’s Corporate & Securities Department, was instrumental in helping to close a big deal in the film music business: Concord Music’s recent acquisition of music label Varèse Sarabande from Film Score Records, an investor group led by The Cutting Edge Group (responsible for such well-known soundtracks as Whiplash, Sicario) and Barings LLC. As detailed in a recent Billboard feature, Varèse Sarabande, under Concord Music’s ownership, will continue to release scores from major and independent film studios, network TV studios, digital streaming platforms, and A-list producers. Of note, the purchase also includes the Varèse Vintage imprint that specializes in releasing new and re-issued albums by classic pop, jazz and country artists.
Corporate associates Peter Cifichiello and Celina Kirchner and tax partner Ian Shane rounded out the M&R team that worked on this extraordinarily successful transaction. Of note, Mr. Poster guided the original acquisition of Varèse Sarabande by Barings in 2012. With its sale this week to Concord Music, Barings has realized a very substantial return on its investment.