Music Deal: Bertelsmann Signs Billion-Dollar Deal for New Music Company
Bertelsmann is allowed to merge its music subsidiary BMG with US rival Concord. The new company is set to become number four in the industry worldwide.
Bertelsmann's music business in the US is set to expand through a multi-billion dollar deal. The company's music subsidiary BMG is merging with US rival Concord, with all relevant competition authorities having approved the deal. Bertelsmann will hold 67% of the combined company, with the Michigan pension fund owning 33% and receiving a one-time payment of $1.16 billion. The merged company, BMG, is expected to have a pro-forma annual revenue of $2.2 billion and an adjusted operating profit of $730 million in 2026.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
