Court blocks Springer’s ProSieben acquisition
December 8, 2008
A German court has upheld a decision by regulators to block plans by publishing giant Axel Springer to acquire broadcaster ProSiebenSat.1.
Springer said that it will decide whether to file an appeal after reviewing the full verdict. The Berlin-based publisher pulled out of its planned E2.5 billion purchase of ProSiebenSat.1 in early 2006 after regulatory concerns arose. German media and antitrust regulators had rejected the combination because of fears about control over public opinion and advertising markets.