Apollo invested $1.25 billion to back the completed merger of BMG and Concord. The combined company, retaining the BMG name, is headquartered in Nashville and covers music publishing, recorded music, theatrical rights, and digital distribution.

Apollo acquired a noncontrolling stake in a BMG subsidiary holding the legacy Concord ABS, backed by over one million songs. The capital will let BMG repay certain debts. Apollo partner Jamshid Ehsani said the non-dilutive equity investment strengthens the company's financial position.

Since 2022, Apollo has supported over $4.5 billion of Concord ABS debt. Over five years, Apollo originated over $8 billion in music investments. Deutsche Bank and Latham & Watkins advised Apollo; Goldman Sachs, DLA Piper, and Davis Polk advised BMG.

BMG's repertoire includes will.i.am, Phil Collins, Tina Turner, Lin-Manuel Miranda, Jelly Roll, Evanescence, Billie Holiday, Rodgers & Hammerstein, Creedence Clearwater Revival, and Leonard Bernstein. Great Mountain Partners holds a minority stake in BMG, part of Bertelsmann.