Alston & Bird represented Great Mountain Partners in the negotiation, structuring, and consummation of a strategic venture between Bertelsmann SE & Co. KGaA’s music subsidiary, BMG, and Concord Music, combining their music publishing, music recording, theatrical rights, and digital distribution businesses to create an integrated global independent music company. The combined company will be the fourth largest music group in the world.
The venture will operate under the BMG name, with affiliates of Great Mountain Partners receiving approximately $1.16 billion in cash and retaining an approximately 33% stake in the combined company. The transaction is expected to close in the second half of 2026, subject to customary regulatory approvals and closing conditions.
The Alston & Bird team advising Great Mountain Partners and its affiliates was led by partners David Grimes and Patrick Rowe, with support from partner John Baron, senior associates Terence McAllister and Trent McKenzie, and associate Rachel Hankers (Corporate & Business Transactions and Mergers & Acquisitions).