Hitco

Concord has officially confirmed its acquisition of what it calls “certain assets” of Antonio “L.A.” Reid and Charles Goldstuck‘s HitCo Entertainment, “including (with limited exclusions) its entire sound recording catalog and certain recent releases.” The deal is also expected to include some upcoming tracks from top HitCo acts Saint JHN and Rubi Rose, sources say. Additionally, sources tell Billboard the ongoing transition does not include the purchase of the HitCo brand or the label, though Concord is working with a handful of HitCo staffers during the changeover and may continue to work with some after that is completed. Reid and Goldstuck will not have ongoing involvement, however, sources confirm. The deal, which is worth an undisclosed amount, was first reported in August by Variety...