The combined company will operate under the BMG name, with Nashville as global headquarters and Berlin as its European base.
BMG and Concord have completed their merger, closing the transaction first announced on April 28 and putting Bob Valentine in place as chief executive of the combined company.
The companies said the deal has cleared all required regulatory approvals. The new business will operate under the BMG name, with global headquarters in Nashville and European headquarters in Berlin.
Ownership shifts to Bertelsmann and Great Mountain Partners
Under the structure disclosed with the closing, Bertelsmann will own about 67% of the company and affiliates of Great Mountain Partners will hold about 33%. As part of the transaction, affiliates of Great Mountain Partners received a one-time cash payment of $1.16 billion from Bertelsmann.
The combined company says it now controls a catalog of more than four million works. In a statement, the firms said the merger is intended to create a global music company with the scale and capabilities to create more opportunities for creators.
Thomas Coesfeld, who will serve as chairman of BMG, said the closing marks “the beginning of a new chapter” and pointed to investment in creators, music rights and AI as part of the company’s plan. He said the goal is to build on the entrepreneurial cultures and independent spirit that defined both businesses.
Bob Valentine said the combined company brings together “exceptional teams, celebrated catalogs” and a shared belief that creative talent deserves dedicated advocacy and sustained investment. He said the mission remains the same: support artists over the long term and help build enduring music and culture.
Valentine takes the top job as the board takes shape
Valentine is now chief executive officer of BMG, while Coesfeld is chairman. The board will include Johannes von Schwarzkopf and Rolf Hellermann for Bertelsmann, Alex Thomson for Great Mountain Partners, and Steve Smith, Concord founding partner.
The executive management team named in the announcement includes Björn Bauer as chief financial officer, Sebastian Hentzschel as chief operating officer, Victor Zaraya as chief revenue officer, Amanda Molter as general counsel, and Kent Hoskins as chief transformation officer.
Valentine said the new leadership group brings the experience and focus needed to deliver on BMG’s ambitions. He said the company will aim to build a clear, focused organization that can move quickly, invest with conviction, and deliver long-term value for the artists, songwriters and playwrights it represents.
BMG has also formed an 18-member Strategic Leadership Council, made up of the six executive management team members and 12 additional senior leaders across the company. The group includes executives from recorded operations, publishing, marketing and streaming, supply chain, human resources, corporate communications, catalog recordings and theatrical operations.
Revenue targets set against a bigger catalog
In the merger announcement, the companies said BMG is aiming for more than $2.5 billion in revenue and $1.2 billion in EBITDA in the midterm, based on what they described as a strong commitment from both shareholders to keep investing in the business.
The closing comes just days after the pre-merger BMG reported half-year results for 2026. Revenue rose 4.9% year over year to €444 million, or $518 million, in the first half. On an organic basis, revenue was up 8.1%. Operating EBITDA adjusted rose to €127 million, or $148 million, from €122 million in the first half of 2025, leaving the EBITDA margin at 28.7%, unchanged from the prior-year period.
For BMG, the merger is now done. The company has the scale, the ownership structure and the leadership team. The next test is whether that setup can turn a larger catalog and broader footprint into the growth it is promising.
