Bertelsmann Closes BMG-Concord Merger, Creating a $2.5 Billion Music Company

Bertelsmann completed the combination of BMG and Concord on 1 September, taking 67% of the merged company while Great Mountain Partners holds 33% and received a one-time $1.16 billion cash payment. Operating under the BMG name with a catalogue of more than four million works, the business targets over $2.5 billion in revenue and $1.2 billion EBITDA in the midterm, with Concord’s Bob Valentine as CEO and incoming Bertelsmann group chief Thomas Coesfeld as Chairman.