BMG and Concord complete a combination spanning more than four million works
The companies completed their combination September 1 after receiving required regulatory approvals. The business operates as BMG, with Bob Valentine as chief executive, Thomas Coesfeld as chairman, Nashville as global headquarters and Berlin as European headquarters. Bertelsmann owns 67%, affiliates of Great Mountain Partners own 33% and received a one-time $1.16 billion cash payment. The owner says the catalog exceeds four million works across publishing, recordings, theatrical rights, digital distribution and film and television; promised creator benefits and performance targets remain forward-looking.
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