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Competition Office approves acquisition of Showtime

Hungary's Competition Office (GVH) on Monday said it approved the acquisition of a 51% stake in concert and event organizer Showtime by Sony Music.

GVH said the two companies are both present on just two markets - the market for organizing smaller concerts and events, and the market for the production and publication of recordings - thus the merger does not pose a threat to competition. (MTI-ECONEWS)