The merger of BMG and Concord, two large independent music companies, is complete. The combined business, which has been referred to as a “fourth major,” will operate under the BMG name, with Bob Valentine as chief executive.
The company said the transaction received all required regulatory approvals. Its main offices are in Nashville for the US and Berlin for Europe.
Ownership and financial targets
Bertelsmann holds a 67% stake in the combined company, while Great Mountain Partners owns the remaining 33%. Affiliates of Great Mountain Partners received a $1.16 billion payment as part of the deal.
The new BMG is targeting midterm revenue of $2.5 billion and earnings before interest, taxes, depreciation, and amortization (EBITDA) of $1.2 billion.
Leadership and board
Sebastian Hentzschel serves as chief operating officer. The board of directors includes:
- Chairman Thomas Coesfeld
- Johannes von Schwarzkopf
- Rolf Hellermann (Bertelsmann)
- Alex Thomson (Great Mountain Partners)
- Steve Smith (Concord founding partner)
Executive statements
Valentine said: “Today marks an exciting new chapter for our combined company and the creators we represent. We have brought together exceptional teams, celebrated catalogs, diverse and talented rosters, and a shared belief that creative talent deserves both dedicated advocacy and sustained investment. While our reach has expanded, the mission that brought us together remains the same: to support artists over the long term, honor the legacies we represent, and help build the next generation of enduring music and culture.”
Coesfeld said: “The completion of this transaction marks the beginning of a new chapter for BMG, creating a business with the scale and resources equipped for the future. We believe that investing in creators, music rights, and AI will allow us to unlock new opportunities for artists and writers in a rapidly evolving industry. By building on the entrepreneurial cultures and independent spirit that have long defined both organizations, we have created a platform that is uniquely positioned in the music industry and set up for sustainable long-term growth. I am truly convinced that together, our passionate teams will continue to innovate with purpose and deliver exceptional service to our creative partners around the world.”
