Concord buys Victory Records

Growing indie powerhouse Concord has acquired Victory Records, the Chicago-based punk and emo label founded by Tony Brummel in 1989, home to bands like Taking Back Sunday, Bayside, Thursday, Hawthorne Heights, Silverstein, etc. Billboard estimates that the Victory company had $4.5 million-$5 million a year in revenue and further estimates that Concord paid somewhere in the range of $27 million-$34 million for the company.