Springer gets green light for N24 takeover

Jörn Krieger | 07-02-2014

Germany's federal cartel office, Bundeskartellamt, has approved the planned acquisition of news channel N24 by media company Axel Springer.

"The takeover is unproblematic under competition law," Andreas Mundt, president of the Bundeskartellamt, said. "N24 is a thematic channel with a limited audience reach and a relatively low share in the TV advertising market."

Springer wants to hook up the TV channel with its newspaper group Die Welt to establish a multimedia news provider offering high quality journalism. The channel will also become the central provider of TV and video material for all Springer brands.

The transaction is still subject to green light from federal anti-media concentration commission KEK.