News•May 6, 2015 6:19 PM ET•12,235 views

Fearless Records purchased for $10 million

California record label Fearless Records, label home to Pierce The Veil, The Word Alive, and Motionless In White, among many others, has been purchased by Concord Bicycle Music. The deal also included a portion of Wind-Up Records. According to Billboard, sources indicate that Concord Bicycle paid roughly $10 million for Fearless.

The deals adds about 150 albums from Fearless and about 25-30 albums from Wind-up to the company's portfolio that already consisted of about 10,000 albums and a music publishing catalog with 60,000 songs. In addition, the Fearless acquisition also includes Fearless Records' Fearmore Music Publishing, which includes the evergreen copyright "Hey There Delilah," along with the company's highly successful in-house merchandise operation.

The deal will leave most of the Fearless staff intact. Fearless founder and president Bob Becker told Billboard, "Fearless has had many opportunities to be acquired by larger companies over the years and it had never seemed like the right fit, until now."