 Concord Music and Bicycle Music will operate as individual divisions within Concord Bicycle Music, with Concord Music Group being primarily responsible for recorded music activities and Bicycle overseeing publishing and rights management.In May 2015, Concord Bicycle Music acquired Fearless Records and the rest of Wind-Up Records, the latter's back catalogue having been acquired by The Bicycle Music Company in October 2013.The Fearless acquisition also included Fearless Records' Fearmore Music Publishing, along with the company's in-house merchandise operation.