Bertelsmann wins clearance to merge BMG with US rival Concord

What's the deal? BertelsmannDealroom has a profile for this one. Try Dealroom → has secured regulatory approval to combine its music unit BMGDealroom has a profile for this one. Try Dealroom → with US rival Concord, clearing the way for what the German media group calls one of the largest deals in its history. All relevant competition authorities have granted the go-ahead, Bertelsmann said Tuesday.

Why now? The approvals remove the final hurdle to the merger. With clearance in hand, Bertelsmann can now push ahead with expanding its US music business.

What's the endgame? The combination pools two music catalogues to strengthen Bertelsmann's content operations. "This is a further major step to join forces with partners, create significant added value and at the same time strengthen our global content businesses," said chief executive officer Thomas Rabe (translated from German).

The signal: Rabe framed the tie-up alongside the creation of Penguin Random HouseDealroom has a profile for this one. Try Dealroom → and the merger of RTLDealroom has a profile for this one. Try Dealroom → and Sky DeutschlandDealroom has a profile for this one. Try Dealroom → — a pattern of Bertelsmann bundling assets with partners to build scale. In music, that means chasing size in the world's largest market.

Read more: handelsblatt.com

Image credit: audiomixhouse