Bertelsmann has welcomed the EU Commission's decision to approve the music rights joint venture between Bertelsmann and KKR, BMG Rights Management.

"We pursue the joint goal of turning BMG into a global music services provider," said Susanne Erdl, VP media relations at Guetersloh-based Bertelsmann, in a statement. "The JV gives BMG the opportunity, based on Bertelsmann's business experience and KKR's capital strength, to accelerate the building of the business by moving forward with catalog acquisitions and developing the repertoire, both through licensing deals and by building new authors and performers."

The statement continued: "A first step into the important U.S. market has already been taken with the acquisition of Crosstown Songs; further steps will follow. BMG's concept for offering songwriters and performers competent, transparent management of their music rights has proven very popular in its first year of business: BMG has signed a large number of contracts in recent months."