FUNKE MEDIENGRUPPE and Axel Springer AG decouple Cartel Office application




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18.11.13

FUNKE MEDIENGRUPPE and Axel Springer AG decouple Cartel Office application

To press release overview

On July 25th, 2013 FUNKE MEDIENGRUPPE agreed to take over Axel Springer AG’s regional newspapers as well as its TV program guides and women’s magazines subject to the approval of the antitrust authorities. The agreement also includes the establishing of marketing and distribution joint ventures.

With the aim of simplifying the approval procedure and allowing for progressive, separate approvals, the contractual partners have withdrawn the original single application for transaction approval today, 18 November 2013, for formal reasons after consultation with the Federal Cartel Office. FUNKE MEDIENGRUPPE and Axel Springer AG thereby react to the Federal Cartel Office’s indications.

The antitrust approval process will now be newly divided into four single packages: First: regional newspapers and women’s magazines, Second: TV program guides, Third: distribution joint venture, Third: marketing joint venture.

The overall volume of the planned transaction remains unchanged. The new applications shall be submitted to the Federal Cartel Office without undue delay. A first decision may be expected still this year, the remaining decisions next year. The business transfer is still expected to take place in the spring of 2014.

Press contacts
Axel Springer AG
Tobias Fröhlich
Deputy Corporate Spokesperson
Tel: +49 30 25 91-7 76 20
tobias.froehlich@axelspringer.de

FUNKE MEDIENGRUPPE GmbH & Co. KGaA
Dr. Tobias Korenke
Project Coordinator
Tel: +49 (0) 201 / 804 8860
presse@funkemedien.de