BMG Deals Approved

The European Commission has approved Bertelsmann Music Group’s acquisition of some of Virgin Music Publishing’s catalogues, which include songs by Kurt Cobain, Tears for Fears, Iggy Pop, Duffy, Mark Ronson, The Human League, Terence Trent D’Arby and The Kooks.

The deal – which is believed to be worth about $90 million – was originally announced Dec. 21 and also includes Famous U.K. Music Publishing and selected titles from Sony/ATV and EMI Music Publishing.

A month later BMG bought Mute Records and Sanctuary Records from Universal Music Group, one of the disposals the Vivendi-owned company was forced to make before getting the EC’s go-ahead for its $1.9 billion purchase of EMI.

BMG announced group profits for Q1 were up 43 percent to euro 207 million, partly thanks to buying out its former joint-venture partner KKR.

“The results are at record levels,” said Bertelsmann chairman and chief exec Thomas Rabe. “We also began the year with significant strides in implementing our growth strategy.”