It’s been rumored since back in January, and now it’s official: BMG and Concord are merging.
Both companies confirmed the move today (April 28), alongside some interesting details.
For example, Concord boss Bob Valentine will serve as CEO of the new combined company, with Thomas Coesfeld as Chairman. (Coesfeld, currently CEO of BMG, also steps up to become CEO of BMG parent Bertelsmann in January 2027.)
The newly combined company’s global headquarters is in Nashville (currently home to Concord’s HQ) while its European headquarters will be in Berlin (currently home to BMG’s HQ).
Its publishing division will be named BMG Publishing, and its recorded music division will be called Concord Records.
The parties expect the transaction to close, following regulatory approvals, in the second half of 2026.
In a press release issued today, it was confirmed that the combined company will be owned approximately 67% by Bertelsmann, and 33% by affiliates of Great Mountain Partners, a long-time investor in Concord.
Affiliates of Great Mountain Partners will also receive a one-time cash payment of USD $1.16 billion as part of the transaction. Other details, including a headline value, were not disclosed.
The press release today stated: “[The unified company] is expected to generate significant cash flow to reinvest in the business and fuel growth.
“This includes a mid-term ambition to achieve $1.2 billion in EBITDA, building from a [projected] pro forma EBITDA base of more than $730 million in 2026, driven through organic growth, M&A, and synergies.”
As a private company, Concord does not publicly publish its financial results, but as part of Bertelsmann, BMG does.
In FY 2025, BMG posted revenues of EUR €900 million (USD $1.02B), with its adjusted operating EBITDA reaching an all-time high of EUR €284 million ($321M).
Today’s press release suggests that the BMG/Concord business combination can “unlock meaningful value through greater scale and strong cash flow, enabling continued investment in music rights, creative talent, and technology”.
This will create a “fully integrated global music company spanning music publishing, recorded music, theatrical rights, and digital distribution”, while the increased scale will “enable deeper investment in creativity, next-generation technology, and world-class talent”.
Thomas Coesfeld, CEO of BMG and designated Chairman of the combined company, said: “We believe this is a truly one-of-a-kind opportunity to bring together two world-class teams and rosters at the right moment, as scale in rights ownership becomes increasingly critical to long-term growth.
“This transaction accelerates our successful BMG Next strategy by enabling a more ambitious and sustained approach to investing in artists and songwriters, as well as in rights, technology, AI tools, and the talent shaping the industry.
“As one unified business, we will further deepen our position as a preferred global partner to artists, songwriters, and platforms, combining scale with the agility and independence they value. We look forward to this next chapter and to the opportunities it creates for artists, songwriters, and partners.”
“As one unified business, we will further deepen our position as a preferred global partner to artists, songwriters, and platforms, combining scale with the agility and independence they value.”
Thomas Coesfeld, BMG
Bob Valentine, CEO of Concord and designated CEO of the combined company, said: “We are excited to begin working together to build something truly exceptional. Both companies were founded to support great artistry and with a deep sense of responsibility to the performers, songwriters, and playwrights we serve.
“We share a philosophy grounded in artist development, strategic long-term management of IP, and operational discipline.
“This is not about replicating the major label model; it’s about using scale to strengthen independence.”
Bob Valentine, Concord
“Our greater scale will allow us to invest more in creative talent, global reach, accretive acquisition opportunities, and technology, while preserving the nimble, entrepreneurial spirit that artists and songwriters value most.
“This is not about replicating the major label model; it’s about using scale to strengthen independence. Together, we will build a company that gives artists more reach and more flexibility – all designed to support their distinct visions.”
Collectively, BMG and Concord have built rosters that span artists, songwriters, and works from Jelly Roll, Paul Simon, Lainey Wilson, will.i.am, Jason Aldean, Tina Turner, Diane Warren, and Jean-Michel Jarre, to Creedence Clearwater Revival, Daddy Yankee, Denzel Curry, Hamilton, Phil Collins, R.E.M., and The Sound of Music.
Since 2021, as part of its Boost investments program, BMG says it has invested more than $1.5 billion in music rights acquisitions and an equal amount in signings, licenses, and technology.
Concord has invested more than $3 billion since 2020 across publishing, recorded music, theatrical rights, and distribution, with a roster of more than 125,000 artists and songwriters.
Davis Polk & Wardwell LLP is serving as legal counsel to BMG. J.P. Morgan is serving as financial advisor to Concord and Latham and Watkins LLP and Reed Smith LLP are serving as legal counsel. Alston & Bird LLP is advising Great Mountain Partners.Music Business Worldwide