BMG and Concord have today (September 1) confirmed the successful completion of their merger.
The combined companies say the deal will “create a new global music company with the scale, expertise, and capabilities to unlock greater opportunities for creators.”
The transaction, first announced on April 28, 2026, has received “all required regulatory approvals”, according to a press release. The company’s global headquarters will be located in Nashville, with Berlin serving as its European headquarters.
As previously announced, the combined company will operate under the BMG name, and will be owned approximately 67% by Bertelsmann and approximately 33% by affiliates of Great Mountain Partners.
Affiliates of Great Mountain Partners received a one-time cash payment of $1.16 billion from Bertelsmann as part of the transaction.
Bob Valentine now assumes the role of Chief Executive Officer of BMG, with Thomas Coesfeld serving as Chairman. The combined company boasts a catalog of over four million works.
“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,” said Thomas Coesfeld, Chairman of BMG.
“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.”
Bob Valentine, Chief Executive Officer of BMG, said: “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.”
In a press release, the combined firms said that “based on a strong commitment by both shareholders to invest into the further development of the company”, BMG is aiming to achieve revenues of over USD $2.5 billion at an EBITDA of USD $1.2 billion “in the midterm.”
The new BMG will be governed by a Board of Directors, working closely with an Executive Management Team.
The Board of Directors consists of Chairman Thomas Coesfeld, Johannes von Schwarzkopf, and Rolf Hellermann (Bertelsmann), as well as Alex Thomson (Great Mountain Partners), and Steve Smith (Concord Founding Partner).
The Executive Management Team will be comprised of the following individuals with designate titles:
- 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
Bob Valentine, BMG CEO, said: “The new Executive Management Team brings together leaders with the experience, judgement, and focus we need to deliver on BMG’s ambitions.
“As we begin this next chapter, our priority is to build on the strengths of both businesses, creating a clear, focused organization that can move nimbly, invest with conviction, and deliver long-term value for the artists, songwriters, and playwrights we partner with and represent.”
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 Strategic Leadership Council comprises the following individuals and their areas of responsibility:
- 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 Catalog Recordings
- Jim Selby, Global Music Publishing
Valentine added: “The Strategic Leadership Council gives us a broader group of leaders around the table, bringing together different areas of expertise and perspectives across BMG.
“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.”
BMG (as in, the pre-merger BMG) issued its latest half-year financial results last week, for H1 2026.
The company saw its revenue grow by 4.9% YoY to EUR €444 million (USD $518M) in the first half of 2026.
On an organic basis – which strips out the impact of acquisitions, disposals, and currency effects – BMG‘s revenue was up 8.1% YoY in the period.
BMG’s operating EBITDA adjusted rose to €127 million ($148m) in the six months to end of June, up from the €122 million the company posted in H1 2025.
That left BMG’s EBITDA margin at 28.7%, level with the prior-year period.Music Business Worldwide
On September 1, BMG and Concord officially announced the successful completion of their merger, a significant development in the global music industry. The transaction, first disclosed on April 28, 2026, has gained all necessary regulatory approvals, paving the way for the formation of a new global music company. This merger is expected to enhance opportunities for creators by combining the scale, expertise, and resources of both companies.
The newly merged entity will operate under the BMG name, with its global headquarters located in Nashville and its European headquarters in Berlin. Ownership will be divided, with Bertelsmann holding approximately 67% and affiliates of Great Mountain Partners owning about 33%. As part of the deal, Great Mountain Partners received a one-time cash payment of $1.16 billion from Bertelsmann.
Leadership for the newly formed BMG has been established, with Bob Valentine stepping in as Chief Executive Officer and Thomas Coesfeld as Chairman. Together, they lead a company that boasts a catalog of over four million works. Coesfeld emphasized that this merger marks a new chapter for BMG, enabling the company to invest in creators, music rights, and artificial intelligence (AI) to foster growth and innovation in a rapidly evolving industry. He remarked on the entrepreneurial culture both organizations share, which will help them deliver exceptional service to their creative partners globally.
Valentine echoed these sentiments, noting that the merger brings together exceptional teams and diverse catalogs, all while maintaining a shared mission to support artists long-term and preserve their legacies. He stated that the combined company aims for significant financial growth, targeting revenues exceeding $2.5 billion and an EBITDA of $1.2 billion in the midterm, backed by a strong commitment from shareholders for further investment in development.
The governance structure of the new BMG will feature a Board of Directors that includes Coesfeld, along with representatives from Bertelsmann, Great Mountain Partners, and Concord. The Executive Management Team will consist of key leaders with designated roles: Bob Valentine as CEO, Björn Bauer as CFO, Sebastian Hentzschel as COO, Victor Zaraya as CRO, Amanda Molter as General Counsel, and Kent Hoskins as Chief Transformation Officer.
Additionally, BMG has established an 18-member Strategic Leadership Council comprising the Executive Management Team and 12 senior leaders from various sectors within the company. This council will bring together expertise from global recorded operations, corporate development, marketing, and more, ensuring a cohesive leadership approach as they implement their strategic goals.
The merger follows BMG’s recent half-year financial results for H1 2026, which reported a 4.9% year-on-year revenue growth to €444 million (approximately $518 million). Organic revenue growth, excluding the effects of acquisitions and currency fluctuations, was reported at 8.1%. BMG’s operating EBITDA adjusted rose to €127 million ($148 million) in the first half of 2026, maintaining an EBITDA margin of 28.7%, consistent with the previous year.
Overall, the merger between BMG and Concord represents a strategic move to create a more formidable player in the music industry, focused on innovation and long-term success for artists and creators alike. The combined company aims not only to expand its market reach but also to provide dedicated support and investment for the music community, ensuring a vibrant future for music and culture.
