BMG and Concord have completed their merger, creating a new global music company "with the scale, expertise, and capabilities to unlock greater opportunities for creators".
The two companies entered into a definitive agreement to combine operations in April, and the proposed deal has now received all required regulatory approvals.
Operating under the BMG name, the combined company's global headquarters will be located in Nashville, with Berlin serving as its European HQ.
“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," said BMG chairman Thomas Coesfeld. "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 organisations, 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.”
The combined roster spans artists, songwriters and works from talent including Kylie Minogue, Lily Allen, 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, REM and The Sound Of Music.
Today marks an exciting new chapter for our combined company and the creators we represent
Bob Valentine, BMG
“Today marks an exciting new chapter for our combined company and the creators we represent,” said BMG CEO Bob Valentine. “We have brought together exceptional teams, celebrated catalogues, 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, honour the legacies we represent, and help build the next generation of enduring music and culture.”
The BMG executive management team will comprise former Concord chief executive Valentine (CEO), Björn Bauer (CFO), Sebastian Hentzschel (COO), Victor Zaraya (chief revenue officer), Amanda Molter (general counsel) and Kent Hoskins (chief transformation officer).
"The new executive management team brings together leaders with the experience, judgement, and focus we need to deliver on BMG’s ambitions," continued Valentine. "As we begin this next chapter, our priority is to build on the strengths of both businesses, creating a clear, focused organisation that can move nimbly, invest with conviction, and deliver long-term value for the artists, songwriters, and playwrights we partner with and represent.”
The combined company will be owned 67% by Bertelsmann and 33% by affiliates of Great Mountain Partners (Concord shareholders). Affiliates of Great Mountain Partners will also receive a one-time cash payment of $1.16 billion.
The strategic leadership council gives us a broader group of leaders around the table, bringing together different areas of expertise and perspectives across BMG
Bob Valentine, BMG
BMG has also established an 18-member strategic leadership council, comprising the six members of the executive management team and 12 additional senior leaders from across the company.
The council, which will "align and execute on BMG’s strategy and key business priorities", includes Tom Becci (global recorded operations), Alberto Chullen, corporate development & investments, Sophia Dilley (Concord Originals), Sean Flahaven (Concord Theatricals), Celine Joshua (global marketing & streaming), Nitsa Kalispera (global supply chain operations), Jon Loba (global frontline recordings), Ruth Martinez (human resources), Kristal McKanders Dube (corporate communications), Alistair Norbury (senior creative advisor to CEO Bob Valentine), Tom Scherer (global catalogue recordings) and Jim Selby (global music publishing).
“The strategic leadership council gives us a broader group of leaders around the table, bringing together different areas of expertise and perspectives across BMG," added Valentine. "It will help ensure we stay connected as a leadership team, sharpen our thinking, and maintain alignment as we translate our strategy into action across the business."
Further leadership appointments across BMG’s business and functions will be announced separately.
