Springer still not allowed to buy Pro Sieben Sat.1
Following a court ruling, the German publisher Axel Springer must put its hopes of a major entry into the German TV business on hold for the time being.
According to SDA, the Federal Supreme Court (BGH) on Tuesday rejected an appeal by the publisher of Bild against a landmark decision by the Düsseldorf Higher Regional Court, which two years ago had prohibited Springer from taking over the Pro Sieben Sat.1 television group. The court thus followed the reasoning of its lower court, according to which the two companies together would have become too powerful on the German media market. The German Cartel Office, which had prohibited the planned merger in 2006, can therefore claim a complete success.
On the stock market, the ruling weighed on the shares of both companies. While Springer closed only slightly worse than the market as a whole, down 0.8 percent, the ProSiebenSat.1 share fell by 6.4 percent.
On the stock market, the ruling weighed on the shares of both companies. While Springer closed only slightly worse than the market as a whole, down 0.8 percent, the ProSiebenSat.1 share fell by 6.4 percent.
