Bertelsmann completes merger of BMG and Concord

Bertelsmann has completed the merger of its music subsidiary, BMG, with the US-based rights holder Concord. The transaction, finalized on September 1, 2026, follows regulatory approval and establishes a major music entity operating under the BMG name.

Bertelsmann holds a 67 percent majority stake in the combined company, while affiliates of Great Mountain Partners hold the remaining 33 percent. To finance the deal, Bertelsmann secured approximately 1.1 billion euros from Apollo, which is taking a minority stake in BMG’s rights portfolio.

The new organization is projected to generate roughly 1.9 billion euros in annual revenue for 2026, with an estimated adjusted operating result of 635 million euros. The combined catalog includes over 4 million works, featuring artists and songwriters ranging from Kylie Minogue and Phil Collins to R.E.M. and Creedence Clearwater Revival.

Headquartered globally in Nashville with a European base in Berlin, the company will be led by CEO Bob Valentine and Chairman Thomas Coesfeld. The merger is viewed as a strategic move to leverage music catalogs as stable assets with predictable cash flows in a rapidly evolving industry.