BMG Rights Management and Concord Music Group are merging into a single entity. The combined company immediately becomes the world’s fourth-largest player in the music business.
The deal involving the merger between Germany’s BMG Rights Management and the American Concord Music Group is reportedly worth between $6 and $7 billion. The transaction is expected to be finalized later this year. Under the agreement, the German side will manage Concord’s extensive back catalog, along with rights management operations.
Together, the merged companies will rank fourth globally in size within the music industry.
The European headquarters will be located in Berlin under the BMG name, with two divisions: BMG Publishing, responsible for areas such as rights management, and Concord Records. The global headquarters will be based in Nashville, where Concord is currently residing.