CONCORD ACQ.CL.A DL-,0001

Bertelsmann and Great Mountain Partners completed the merger of BMG and Concord on 1 September 2026; Bertelsmann holds 67 percent and will fully consolidate the company. The newly formed BMG is expected to generate pro forma US$2.2 billion in revenue and an adjusted operating EBITDA of US$730 million in 2026, with a global headquarters in Nashville and a European seat in Berlin. Concord’s owners receive 33 percent; the board will include three representatives from Bertelsmann and two from GMP; chairman will be Thomas Coesfeld and CEO Bob Valentine. As part of the deal, BMG secures roughly €1.1 billion in equity through an agreement with Apollo to refinance outstanding ABS liabilities. » Więcej na finanzen.net

Bertelsmann is consolidating its music business by merging its subsidiary BMG with US company Concord; Bertelsmann will hold 67 percent of the shares, the current Concord owners 33 percent and will receive a one-time payment of $1.16 billion. The combined company is expected to generate pro-forma revenue of about $2.2 billion and will operate under the name BMG. The closing is subject to regulatory approval and is expected in the fourth quarter of 2026; Thomas Coesfeld is to become chairman and Bob Valentine CEO. Bertelsmann cites substantial synergies, planned cost savings, joint investments in IT and artificial intelligence, and stronger marketing of the music catalogs; the move comes in the context of the planned leadership transition at Bertelsmann at the end of 2026. » Więcej na finanzen.net