BMG and Concord have announced an agreement to combine their businesses, creating the leading independent music company in the world.
Operating under the BMG name, the combined company will bring together two highly complementary businesses to establish a scaled, global company delivering superior service to artists, songwriters, and partners.
Together, BMG and Concord will form a fully integrated global music company spanning music publishing, recorded music, theatrical rights, and digital distribution, the companies said in a press release.
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 pro forma EBITDA base of more than $730 million in 2026, driven through organic growth, M&A, and synergies.
"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," said Thomas Coesfeld, Chief Executive Officer of BMG and designated Chairman of the combined company.
"We are excited to begin working together to build something truly exceptional," said Bob Valentine, Chief Executive Officer of Concord and designated CEO of the combined company.
Upon closing, Valentine will serve as CEO of the combined company, with Coesfeld serving as Chairman. As previously announced, Coesfeld will assume the role of CEO of Bertelsmann, effective January 1, 2027. A joint management team drawn from both companies will lead the business.
Collectively, the companies have built one of the most diverse and culturally significant rosters in the industry, spanning 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, Phil Collins and R.E.M.
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