Bertelsmann to Buy Concord, Creating $14 Billion Music Giant (1)

German media giant Bertelsmann SE agreed to buy Nashville-based independent music group Concord and merge it with its BMG Rights Management business in a deal that will create one of the largest music companies in the world.

While terms of the transaction weren’t publicly disclosed, the combined company is valued at $14 billion, according to a person familiar with the details who asked not to be identified discussing non-public information.

Concord and BMG have been two of the biggest buyers of music catalogs over the last two decades, assembling a combined roster that spans almost every genre and geography. BMG ...