AI Summary

BMG's acquisition of Concord is a significant development in the music industry, as it will create a major player in both publishing and catalog companies. This merger brings together BMG's existing publishing and catalog operations with Concord's extensive music catalog, resulting in a company with an estimated $2 billion in revenue. The tie-up will make BMG's parent company, Bertelsmann, the majority owner of the new entity, further solidifying its presence in the music industry.

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