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Business News Labels & Publishers
Harry Fox Agency downsizes after SESAC acquisition
By Chris Cooke | Published on Wednesday 30 September 2015
Up to 30% of staff at US mechanical rights firm the Harry Fox Agency will go, according to Billboard’s sources, following the company’s acquisition by performing rights body SESAC. The downsizing is as a result of overlapping roles at the two music rights agencies, according to management at the merged entity. It is thought 20 employees departed last week, and ten more will go after a transition period.
SESAC CEO John Josephson told Billboard: “Following SESAC’s recent acquisition of the Harry Fox Agency, several positions at HFA were identified as overlapping with existing resources at SESAC resulting in a determination that a reduction in staff was necessary. This staff adjustment will in no way affect the level of service delivered by HFA as we are committed to providing the same or higher service levels than our publisher clientele expect and which they have received in the past”.
He added that a combined SESAC/HFA would be able to offer “a broader base of services in order to deliver the most efficient, multi-right, multi-territory licensing model possible”, while adding that “HFA is fortunate to have an outstanding staff and we are grateful for the contributions of all HFA employees in making it the leading company it is today”.
