Ringier Axel Springer Media: Application for antitrust clearance withdrawn
The two shareholders of Ringier Axel Springer Media, Ringier and Axel Springer, have withdrawn their application for antitrust clearance for a merger of the two companies' activities in Hungary. The withdrawal of the application is for procedural reasons.
The newly created Hungarian Media Council had recently issued a negative, for the Cartel Office binding Opinion to the merger. The companies still plan to combine their activities in Hungary. After careful examination of all options for action, they will decide at the appropriate time whether and in what form a new application for a modified merger will be submitted. The two shareholders wrote this in a statement on Friday.
For Ringier Axel Springer Media, which has been active in Poland, Slovakia, the Czech Republic and Serbia since July 2010, the withdrawal of the application for a merger in Hungary does not result in any changes. It will continue unchanged on its growth course toward digitization on the basis of its strong core brands.
