Introduction In October 2015, following a phase II investigation, the European Commission published its decision to approve a JV between three of the largest collective management organisations (CMOs) in Europe, PRSfM (UK), GEMA (Germany) and STIM (Sweden).[1]M.6800-PRSfM/ STIM/ GEMA/ JV. As in other recent music industry mergers, the Commission investigated whether the combination of the…