BMG has completed its merger with Concord, creating the world’s largest independent music company and fourth-largest music company overall, with Bob Valentine stepping into the role of Chief Executive Officer of the combined entity announced on September 1, 2026.
The transaction, first announced on April 28, 2026, received all required regulatory approvals after the U.S. authorities cleared the deal on June 17 and German regulators approved it on June 18. The combined company will operate under the BMG name with its global headquarters in Nashville and European headquarters in Berlin.
The merged entity is owned approximately 67% by Bertelsmann and approximately 33% by affiliates of Great Mountain Partners, which received a one-time cash payment of $1.16 billion from Bertelsmann as part of the transaction. The combined company boasts a catalog of over four million works, positioning it to compete more effectively against the industry’s dominant “Big Three”—Universal Music Group, Sony Music Entertainment, and Warner Music Group.
Valentine, who previously served as Chief Executive Officer of Concord since July 2023, brings decades of music industry experience to his new role. He joined Concord’s predecessor company in 1999 when Norman Lear’s Act III Communications acquired Concord Records, and progressed through leadership roles including Chief Financial Officer and President before his elevation to Concord’s top position.
The executive management team supporting Valentine includes Björn Bauer as Chief Financial Officer, Sebastian Hentzschel as Chief Operating Officer, Victor Zaraya as Chief Revenue Officer, Amanda Molter as General Counsel, and Kent Hoskins as Chief Transformation Officer. Thomas Coesfeld serves as Chairman of the board, which also includes Johannes von Schwarzkopf and Rolf Hellermann representing Bertelsmann, along with Alex Thomson from Great Mountain Partners and Steve Smith, a Concord founding partner.
The combined company has established an 18-member Strategic Leadership Council comprising the six executive management team members and 12 additional senior leaders overseeing functions including global recorded operations, corporate development, theatrical rights, music publishing, marketing, human resources, and supply chain operations. This structure aims to maintain agility while leveraging the scale of the merged entity.
BMG and Concord project revenues exceeding $2.5 billion and EBITDA of $1.2 billion in the midterm, based on strong shareholder commitment to invest in the company’s continued development. The merger unites two of the music industry’s most significant independent operators, each with substantial publishing and recorded music catalogs spanning artists from legacy acts to contemporary creators.
Valentine stated in the announcement that the completion “marks an exciting new chapter for our combined company and the creators we represent,” emphasizing the mission to “support artists over the long term, honor the legacies we represent, and help build the next generation of enduring music and culture.” Chairman Coesfeld added that the merged company is “uniquely positioned in the music industry and set up for sustainable long-term growth,” citing plans to invest in creators, music rights, and artificial intelligence technology.
Sources
- Music Business Worldwide — confirmed merger completion on September 1, 2026, executive team appointments, ownership structure, financial targets, and direct quotes from Valentine and Coesfeld
- Reuters — reported U.S. regulatory approval on June 17, 2026, and the $1.16 billion cash payment to Great Mountain Partners
- Variety — provided initial merger announcement details from April 28, 2026, and catalog information
- LA Times — confirmed the fourth-largest music company positioning and identified the “Big Three” competitive landscape
- Billboard — confirmed merger completion and regulatory approval timeline
- Music Week — reported German regulatory approval on June 18, 2026
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