By Jem Aswad
Plus IconJem Aswad
Executive Editor, Music
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As widely rumored earlier this year, BMG and Concord have officially announced “a definitive agreement to combine their businesses,” creating what is basically the fourth major music company, although they’re terming it “the leading independent music company in the world.”
The deal, which sources place between $6.6 billion and $7 billion, would form a company that is considerably smaller than the two dominant major music groups, Universal and Sony — but not far from the third, Warner, at least by some metrics. Terms of the deal were not disclosed.
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