Following an in-depth investigation, the European Commission has approved 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. The Commission had concerns that the creation of the joint venture would make it more difficult for other collecting societies to offer copyright administration services by raising the barriers to entry and growth in this market. The commitments submitted by the companies address these concerns. Here to read more.