Apollo Provides $1.25 Billion Capital Solution to Support Combination of BMG and Concord.

Apollo has announced that Apollo-managed funds and affiliates have provided a $1.25 billion equity capital solution to support the recently completed combination of BMG and Concord, bringing together two highly complementary businesses spanning music publishing, recorded music, theatrical rights and digital distribution. The combined company retains the BMG name and is headquartered in Nashville, Tennessee.

Under the terms of the transaction, Apollo acquired a noncontrolling interest in a subsidiary of BMG, which holds the legacy Concord ABS, backed by a catalog of over 1 million songs. Apollo’s equity investment enables BMG to repay certain outstanding ABS liabilities.

Apollo Partner Jamshid Ehsani said, “We are pleased to support the transformative combination of BMG and Concord through a tailored, non-dilutive equity investment that strengthens the combined company’s financial positioning as it enters this exciting next chapter. This transaction is indicative of Apollo’s growing role as a provider of high-grade capital solutions to leading corporations across an expanding range of industries and use cases, leveraging our scaled permanent capital base.”

BMG CEO Bob Valentine said, “The combination of BMG and Concord marks a defining moment in our company’s evolution. Apollo’s continued partnership and confidence in our strategy further strengthens our financial foundation and positions us to champion artists and songwriters, and to pursue global long-term growth opportunities. Together, we are building a stronger global music company with the scale, capabilities, and resources to capitalize on the opportunities ahead.”

Since 2022, Apollo has supported Concord’s issuance of over $4.5 billion of ABS debt through a long-term financing partnership. Over the past five years, Apollo has originated over $8 billion in music industry investments.

Deutsche Bank served as financial advisor and Latham & Watkins LLP served as legal counsel to Apollo. Goldman Sachs served as financial advisor to BMG, and DLA Piper and Davis Polk served as legal counsel to BMG on the transaction.

About BMG
Founded in 2008, BMG is committed to building the world’s most trusted, forward-looking music company. Following its combination with Concord in 2026, BMG brings together global scale, deep expertise, technology and partnership to unlock new opportunities for creators while protecting and growing the long-term value and cultural impact of their work.

Headquartered in Nashville with 18 offices globally, BMG is privately held and part of Bertelsmann, the international media, services and education company, with a minority stake held by affiliates of Great Mountain Partners.

These artists are either directly signed to BMG Recorded Music or release under BMG-managed frontline campaigns:

Mustard – Multi-platinum super-producer and artist behind hits like “Not Like Us”.

YG – Signed a multi-album partnership in 2024 through his 4Hunnid Label.

Yung Gravy – Signed a global recordings agreement with BMG for his major studio albums.

Logic – Releases independent frontline projects in partnership with BMG.

Wiz Khalifa – Longtime partner for both recording releases and catalog management.

Stefflon Don – Leading UK rap star aligned with BMG’s international roster.

KSI – UK rap and crossover artist.

BMG acquired independent hip-hop pillar RBC Records, expanding its reach to foundational underground rap and trap music. Through RBC and joint ventures like Chief Keef’s 43B imprint, they handle:

Chief Keef
Waka Flocka Flame
Run the Jewels
Gucci Mane (Catalog)
Big L (Catalog)
Tech N9ne
E-40
Skippa Da Flippa

Publishing & Sample Catalogs

BMG Publishing represents the songwriting catalogs or the essential foundational sample rights for some of the most historic names in hip-hop history:

Grandmaster Flash
Outkast
Run-D.M.C.
Juice WRLD
Black Eyed Peas
MC Hammer