The deal will allow Concord to develop remakes and sequels to films and musicals in RKO's library, which includes It's a Wonderful Life and several Fred and Ginger romps.
The deal brings the rights of famous playwrights like Tennessee Williams, Sam Shepard and Alan Menken to Concord.
"With Concord’s backing, we gain more fuel for the engine and a global team to help us scale," says Stem's CEO.
The acquisition would help catalog-heavy Concord develop its frontline business.
Also this week: An Oak View Group veteran joins Javitz, an Elektra Music Group mainstay launches his own firm and 19 Entertainment has a new head of music.
The deal includes part of the reggaetón superstar's rights to "Gasolina," "Con Calma" and his rights as a featured artist on "Despacito."
The ABS is backed by a $5.1-billion catalog featuring songs by Genesis, Phil Collins, R.E.M., Carrie Underwood and Creed.
"I love working with artists and being a part of them realizing their vision and their dreams," says Becci in his first interview since taking over as CEO last year.
Concord said on Thursday it would not raise its bid to beat Blackstone's $1.6 billion offer for the publicly listed music royalty fund.
Dent rises to executive vp of operations while Weindorf rises to executive vp of marketing.
