Press Release: Mergers: Commission approves joint venture for cross-border licensing of online music between PRSfM, STIM and GEMA, subject to commitments

Following an in-depth investigation, the European Commission has approved, on 16 June 2015, under the EU Merger Regulation the proposed creation of a joint venture for multi-territorial online music licensing and copyright administration services by three music collecting societies. They are PRS for Music Limited ("PRSfM") the UK, Föreningen Svenska Tonsättares Internationella Musikbyrå u.p.a. ("STIM") of Sweden and Gesellschaft für musikalische Aufführungs- und mechanische Vervielfältigungsrechte ("GEMA") of Germany. The approval is conditional upon the proposed joint venture implementing commitments that will enable other players to compete with the joint venture in the provision of copyright administration services.