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Competition Office fines regional publishers

Telco

Hungary's Competition Office (GVH) on Monday said it fined four regional publishers almost HUF 2.2 bln for colluding on market share, news agency MTI reported yesterday.

GVH found that Axel Springer-Magyarország, Russmedia, Lapcom and PannonLapok and their legal predecessors had set prices and agreed not to compete against each other on the Sunday papers market for almost a decade in the early 2000s.

GVH fined Axel Springer-Magyarország HUF 615.4 mln, Russmedia HUF 480.8 mln, Lapcom HUF 313.1 mln and Pannon Lapok HUF 755.4 mln. Saying that the practice took place for many years, GVH fined all four companies at the maximum rate, which is 10% of net revenue in the preceding year.

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