Phase II decision: The European Commission conditionally approves the creation of a joint venture for multi-territorial online music licensing and copyright administration services by three music collecting societies (PRSfM, STIM, GEMA, JV)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. Three national music collecting societies, PRS for Music Limited (PRSfM, United Kingdom), Föreningen Svenska Tonsättares Internationella Musikbyrå u.p.a. (STIM, Sweden), and Gesellschaft für musikalische Aufführungs- und mechanische Vervielfältigungsrechte (GEMA, Germany) had notified the Commission of the creation of a joint subsidiary. PRSfM is a subsidiary of Performing Right Society Limited (PRS). It manages the performing rights owned or controlled by PRS as well as the mechanical rights controlled by Mechanical-Copyright Protection Society Limited (MCPS). PRS and MCPS are two UK collecting societies for the copyright of musical works. STIM and GEMA are