From Billboard · Elizabeth Dilts Marshall · · 1m 20s
Apollo backs BMG-Concord merger with $1.25B deal
Investment firm Apollo provides financing for the music industry's biggest merger in years, becoming a minority investor in the combined catalog.
In brief
Investment firm Apollo provides financing for the music industry's biggest merger in years, becoming a minority investor in the combined catalog. Apollo's $1.25 billion financing deal supports BMG's integration of Concord while giving Apollo equity stakes in the merged company's music assets. Originally reported by…
Apollo funds BMG-Concord merger
Apollo Global Management committed $1.25 billion to support the integration of Concord into BMG, one of the biggest music mergers in the past decade.
“The combination of BMG and Concord marks a defining moment in our company's evolution.”
Apollo gets equity in merged catalog
In exchange for the financing, Apollo becomes a minority investor in a BMG subsidiary holding Concord's old catalog and the songs that backed its securities.
Long-standing partnership deepens
Apollo has been Concord's primary partner for asset-backed securities since 2022, handling four notes worth more than $4.5 billion combined before this deal.
Merger completed with regulatory approval
BMG completed the acquisition of Concord on September 1st after receiving regulatory approval, creating a company with over 4 million works in its catalog.
Combined company strengthens position
The merged entity now represents major artists like Jelly Roll and Lainey Wilson while owning classic songs from Creedence Clearwater Revival and R.E.M.
“Together, we are building a stronger global music company with the scale, capabilities, and resources to capitalize on the opportunities ahead.”
Bertelsmann maintains majority control
BMG remains privately held with media giant Bertelsmann holding a 67% stake, while Great Mountain Partners affiliates hold the remaining 33%.
The short version
Apollo's $1.25 billion financing deal supports BMG's integration of Concord while giving Apollo equity stakes in the merged company's music assets.
