BMG-Concord Merger Wins US Approval, Set to Form Major Global Music Company
Details of the BMG-Concord Merger and Its Global Impact
Regulatory Approval and Merger Overview
BERLIN, June 17 (Reuters) - German media group Bertelsmann on Wednesday said U.S. competition authorities have approved the planned merger of its music division BMG with rival Concord in a deal that would create the world's fourth‑largest music company.
Profiles of BMG and Concord
BMG and Concord are among the largest independent music companies. BMG works with artists including Bruno Mars and Kylie Minogue, while Concord is home to recordings by Creedence Clearwater Revival, Miles Davis and R.E.M., among others.
Transaction Structure and Ownership
The cash-and-stock transaction will give Bertelsmann a 67% stake in the enlarged company, while Concord's shareholders will get a 33% stake and a one-time cash payment of $1.16 billion.
Statements and Future Outlook
Bertelsmann's Response to Approvals
Bertelsmann in an emailed statement welcomed the approvals from authorities in Germany and the United States.
Pending Approvals and Expected Timeline
"Further regulatory approvals in other countries are still pending. Bertelsmann continues to expect the transaction to close in the fourth quarter of 2026," the statement said.
(Reporting by Klaus Lauer; writing by Matthias Williams; Editing by Madeline Chambers)
