TITLE

Cartel office eyes ProSieben deal

AUTHOR(S)
Roxborough, Scott
PUB. DATE
August 2005
SOURCE
Hollywood Reporter -- International Edition;8/9/2005, Vol. 390 Issue 20, p6
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article reports that Germany's competition watchdogs said on Monday that they were looking for signs of an illegal move towards a media monopoly in German publisher Axel Springer AG's multibillion dollar buyout of Haim Saban's majority stake in Teutonic broadcaster ProSiebenSat.1 Media AG. The Springer-Saban deal, announced on Friday, will see Springer pay a total of up to $5.1 billion to acquire full control of ProSiebenSat., the German broadcaster whose five free-to-air channels represent about 20% of the local market. If the deal gets the green light from media authorities, it will, in effect, split the German television market in two, with one entity being the Springer-controlled ProSieben group and the other being ProSieben competitor the RTL Group, owned by media giant Bertelsmann.
ACCESSION #
18078979

 

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