BMG in Talks to Buy Concord, Tying Kylie and Killer Mike Labels

German record label BMG Rights Management is weighing a bid for Concord in a deal that could value the US music company as high as $7 billion, people familiar with the matter said, and would unite two of the largest independent record labels.

BMG is considering a cash and stock offer, the people said, asking not to be identified because the deliberations are private. The companies are still negotiating and may not come to an agreement, they said.

A combination of Concord and BMG, part of the German media giant Bertelsmann, would have the agility of an indie with ...