Press Release: Mergers: Commission clears proposed music joint venture between Bertelsmann and Kohlberg Kravis Roberts

The European Commission cleared under the EU Merger Regulation the proposed acquisition of joint control by Bertelsmann AG of Germany and Kohlberg Kravis Roberts & Co LLP (KKR) of the US over a newly created music publishing and rights management venture, which would in turn acquire music publishing assets from Crosstown Songs America LLC of the US. After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.