International music company BMG Rights Management has completed its combination with Concord, announcing its new executive management and strategic leadership teams. BMG and Concord previously announced the agreement to combine their businesses on April 28, a transaction that has been finalized following the receipt of all required regulatory approvals.
Owned by Bertelsmann and Great Mountain Partners (GMP) and operating under the BMG name, the new company offers music publishing, recorded music, theatrical rights, digital distribution and film and TV services to artists, songwriters and partners. As designated in April and effective today, Bob Valentine, previously chief executive officer of Concord, is CEO of the merged company. Thomas Coesfeld (previously CEO of the former BMG) now serves as chair of the board of directors, which will govern BMG’s strategic direction, financial performance, innovation and long-term vision.
Newly announced today, Johannes von Schwarzkopf, Rolf Hellermann of Bertelsmann, Alex Thomson of GMP and Steve Smith of Concord complete the board. The new BMG has also just announced its executive management team. In addition to CEO Valentine, Björn Bauer is chief financial officer with Sebastian Hentzschel serving as chief operating officer, Victor Zaraya as chief revenue officer, Amanda Molter as general counsel and Kent Hoskins as chief transformation officer.
BMG has also established an 18-member strategic leadership council, composed of the six aforementioned executives and 12 senior leaders from across the company. Bringing together expertise from various areas of music publishing, recorded music, theatrical, film, television, technology, operations and corporate functions, the council will conduct discussions about BMG’s business strategy and priorities, supporting collaboration across BMG’s business functions and international markets.
In addition to the executive management team, the strategic leadership council will consist of Tom Becci, global recorded operations; Alberto Chullen, corporate development and investments; Sophia Dilley, Concord Originals; Sean Flahaven, Concord Theatricals; Celine Joshua, global marketing and streaming; Nitsa Kalispera, global supply chain operations; Jon Loba, global frontline recordings; Ruth Martinez, human resources; Kristal McKanders Dube, corporate communications; Alistair Norbury, senior creative advisor to the CEO; Tom Scherer, global catalog recordings; and Jim Selby, global music publishing.
Further leadership appointments will be announced at a later date.
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Of note, Dilley joined Concord Music in 2018. According to previous reports, she was hired to expand Concord’s content strategy. In 2021, Dilley spearheaded the launch of Concord Originals, the company’s film and television division. Her previous title was executive vice president. Flahaven joined Concord as chief theatricals executive in 2018, leading the company’s services of theatrical licensing, script publishing, music publishing, recording, theatrical development and producing for the artists whose catalogs it represented.
Overall, “the Strategic Leadership Council gives us a broader group of leaders around the table, bringing together different areas of expertise and perspectives across BMG,” said Valentine in a statement. “It will help ensure we stay connected as a leadership team, sharpen our thinking and maintain alignment as we translate our strategy into action across the business.”
Addressing the completion of the merger, Valentine said, “Today marks an exciting new chapter for our combined company and the creators we represent. We have brought together exceptional teams, celebrated catalogs, diverse and talented rosters and a shared belief that creative talent deserves both dedicated advocacy and sustained investment. While our reach has expanded, the mission that brought us together remains the same: to support artists over the long term, honor the legacies we represent and help build the next generation of enduring music and culture.”
“The completion of this transaction marks the beginning of a new chapter for BMG, creating a business with the scale and resources equipped for the future,” added Coesfeld. “We believe that investing in creators, music rights and AI will allow us to unlock new opportunities for artists and writers in a rapidly evolving industry. By building on the entrepreneurial cultures and independent spirit that have long defined both organizations, we have created a platform that is uniquely positioned in the music industry and set up for sustainable long-term growth. I am truly convinced that together, our passionate teams will continue to innovate with purpose and deliver exceptional service to our creative partners around the world.”
“The new executive management team brings together leaders with the experience, judgement and focus we need to deliver on BMG’s ambitions,” Valentine continued. “As we begin this next chapter, our priority is to build on the strengths of both businesses, creating a clear, focused organization that can move nimbly, invest with conviction and deliver long-term value for the artists, songwriters and playwrights we partner with and represent.”
Founded in 2008, BMG noted that its catalog now includes more than 4 million works following the combination. Before the merger, Concord said it supported more than 125,000 artists and songwriters, with a repertoire that included plays and musicals available for licensing to Broadway, Off-Broadway, regional and amateur productions. Concord’s recent acquisitions include the musical adaptations of “Almost Famous” and “Smash,” as well as the Tony Award-winning play “Stereophonic.”
The combined company is owned 67 percent by Bertelsmann, the media conglomerate to which BMG belongs, and 33 percent by affiliates of private markets investor GMP. GMP affiliates received a one-time cash payment of $1.16 billion as part of the merger. The company will operate under the BMG name, offering music publishing, recorded music, theatrical rights, digital distribution and film and TV services to artists, songwriters and other creative partners. BMG’s global headquarters will be located in Nashville, Tennessee, with its European headquarters in Berlin.
