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-0.000352858151023218 0.00211714890613981 0.00229357798165142 0.00247000705716303 0.00705716302046587 0.00705716302046587 0.00705716302046587 0.00705716302046587
Stock impact report

BMG and Concord merge to create music's fourth-largest company [Los Angeles Times (CA)]

Warner Music Group Corp. - Class A (WMG) 
BMG and Concord are aiming to operate the largest “independent music company in the world,” behind the music industry's “Big Three” — Universal Music Group , Warner Music Group and Sony Music Entertainment. Financial terms were not disclosed. The combined company, which will operated under the BMG name, is valued at $14 billion, Bloomberg In a statement, the companies said goal of the merger is to create a wider global reach for its artists and songwriters. The new BMG will be involved in music publishing, recorded music, theatrical rights and digital distribution. Now the sounds of Jason Aldean Daddy Yankee Korn “Hamilton,” Phil Collins, R.E.M. and “The Sound of Music” will all be represented by the same company. “Both companies were founded to support great artistry and with a deep sense of responsibility to the performers, songwriters, and playwrights we serve,” Bob Valentine, the company's new chief executive, said in the statement. “Our greater scale will allow us to Show less Read more
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