Infocommunications authority halts media group merger

Sights

The competition authority has halted the merger of the Ringier and Axel-Springer media groups until the National Media and Infocommunications Authority (NMHH) takes a stand in the matter, business news portal Napi.hu reported.

The merger of the companies into a single joint venture called Ringier Axel Springer Hungary was announced in January, about the time Vienna Capital Partners announced a buyup of 10 Hungary-based newspapers and magazines. Apparently, however, no end to the merger is in sight due to the regulators’ prolonged investigation about whether a deal of such scale would upset market balance to an illegal extent.

The companies said at the time of the deal that they are aware the regulatory process may be long and that they are ready to wait months if necessary.

-- David Landry contributed to this article

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.

Support the BBJ

Travel