Thomas Coesfeld and Bob Valentine
BMG and Concord Have Officially Merged
Bob Valentine is now the CEO of what has been referred to as the “fourth major”
The merger of Concord and BMG is officially complete. The two large-scale independent music companies will jointly operate under the BMG name, with headquarters in Nashville and Berlin for the US and Europe, respectively.
The details:
According to a press release, the new company received “all required regulatory approvals.”
Bertelsmann will own 67% of the company, with Great Mountain Partners owning the remaining 33%.
Great Mountain Partners affiliates received a $1.16 billion payment as part of the deal.
The new BMG is shooting for revenues of $2.5 billion at an EBITDA of $1.2 billion “in the midterm.”
Personnel:
Bob Valentine, Chief Executive Officer.
Björn Bauer, Chief Financial Officer.
Sebastian Hentzschel, Chief Operating Officer.
Victor Zaraya, Chief Revenue Officer.
Amanda Molter, General Counsel.
Kent Hoskins, Chief Transformation Officer.
Board of Directors: Chairman Thomas Coesfeld, Johannes von Schwarzkopf, Rolf Hellermann (Bertelsmann), Alex Thomson (Great Mountain Partners), and Steve Smith (Concord Founding Partner).
What they said:
Valentine: “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: “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.”
👋 Disclosures & Transparency Block
This article was written with information sourced from Music Business Worldwide.
We covered it because the BMG/Concord merger is a major music industry development.
