IN BRIEF (Page 16)

Music rights venture

Bertelsmann AG, Europe's largest media company, will form a joint venture with private equity fund KKR & Co for music rights management.

Guetersloh, Germany-based Bertelsmann will own 49 percent of the venture and KKR will hold 51 percent, the two companies said, without disclosing financial terms. The transaction will be completed in "a few months" after getting the relevant approval, the statement said.