This being the season for multi-billion dollar music acquisitions, perhaps it should come as no surprise that Concord is eyeing up potential suitors. Billboard reported that the company is “exploring a sale… a deal that would likely top $4 billion if the full company were to trade”.
This is based on a business that generates $500m in annual revenue: “about $200 million from recorded music, $200 million from music publishing and $100 million from a theatrical arm”.
Who would buy? Universal Music Group and Sony Music are flagged as potentially interested but probably hamstrung by regulatory concerns, leaving Warner Music and BMG as stronger possible buyers.
However, investment firms KKR, Blackstone and Apollo Global Management are also tipped as potential entrants into any bidding war for Concord if and when it decides to sell.