German music giant BMG Rights Management has reached an agreement to acquire Nashville-based Concord. The merger is set to create one of the largest music entities globally.
- BMG Rights Management enters agreement to buy Concord
- Merger creates a new major global music giant
- Concord is a Nashville-based independent music group
- Estimated valuation of Concord previously reported at $7 billion
- Deal emphasizes the trend of catalog consolidation in the streaming age
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