Concord Bicycle Music and Razor & Tie founders Cliff Chenfeld and Craig Balsam have formed new company Razor & Tie Enterprises LLC.
As part of a worldwide agreement between the two sides, Concord Bicycle Music will acquire a significant stake in the new company, administer Razor & Tie Music Publishing, provide strategic resources and support the further expansion of the Kidz Bop brand. The company will provide these services through both its publishing division, Bicycle Music, and its recorded music division, Concord Music Group.
Razor & Tie founders Cliff Chenfeld and Craig Balsam will continue as co-CEOs of the new company, based out of their Greenwich Village offices.
“I have known and respected Cliff and Craig for almost 25 years,” said Concord Bicycle Music CEO, Scott Pascucci. “They have shown remarkable focus and creativity in building Razor & Tie into the company that it is today. We are excited to be their partner as they continue to grow and expand the company.”
Cliff Chenfeld and Craig Balsam added: “We are thrilled about our new venture with Scott and his outstanding team at Concord Bicycle Music. This partnership maintains our independence and autonomy and provides us with the strategic support necessary to take Razor & Tie and Kidz Bop to a completely different level. We are energized and ready for the challenge.”
The Razor & Tie transaction follows Concord Bicycle’s joint venture with Tom Whalley for his Loma Vista Records label in 2014, and the recent acquisition of acclaimed independent labels Fearless and Wind-up, underscoring the company’s commitment to develop and grow its rock and alternative music portfolio. Previously this year, Concord Bicycle expanded its folk, blues, rock, country, bluegrass and Americana repertoire with the acquisition of the essential Vanguard and Sugar Hill labels.
Formed in 1990, Razor & Tie’s roster includes established and developing artists such as The Pretty Reckless, All That Remains, Starset, The Sword and Red Sun Rising to name a few.
Additionally, Razor & Tie created and owns kids music brand KidzBop. The audio series has sold over 15 million albums since its debut in 2001 and has expanded significantly to include a national tour, the branded SiriusXM channel 77 Kidz Bop Radio, a growing digital presence as well as licensed merchandise, and music videos.