Bonn, 29 April 2014: The Bundeskartellamt has cleared subject to conditions and obligations the acquisition by FUNKE MEDIENGRUPPE of Axel Springer’s TV programme magazines HÖRZU, TV DIGITAL, FUNK UHR, BILDWOCHE and TV NEU.
FUNKE MEDIENGRUPPE is obliged to sell the former Springer TV programme magazines BILD WOCHE, FUNK UHR and TV NEU, as well as five minor Funke titles to an independent competitor. The buyer will be Mediengruppe Klambt, which so far has not published any TV programme magazines. The Bundeskartellamt has accepted Mediengruppe Klambt as an independent competitor after an in-depth check of the financing provisions of the deal (see also press releases of 25 February 2014 and 31 March 2014).
Andreas Mundt, President of the Bundeskartellamt, stated: "The merger could only be cleared subject to an obligation to divest. The programme magazine market is one of the markets with the highest circulations of popular magazines in Germany. The market entry of Klambt Medienholding ensures that anti-competitive effects to the detriment of readers and the advertising industry are prevented on this market."
Currently, there are four suppliers on the reader and advertising markets for TV programme magazines forming an oligopoly. Apart from Axel Springer and FUNKE MEDIENGRUPPE there are Heinrich Bauer Verlag (inter alia TV Hören und Sehen, TV 14) and Hubert Burda Media (inter alia TV Spielfilm). By a reduction of the number of suppliers in the market by one, the market dominance of the remaining oligopolists would have increased. The Bundeskartellamt expects the sale of the eight above-named magazines to Mediengruppe Klambt to have a sustainable effect, which will prevent a strengthening of the dominant position of the three remaining members of the oligopoly after the withdrawal of Axel Springer from the market.
The clearance concludes the second part of an extensive examination of the takeover of several titles of Axel Springer by FUNKE MEDIENGRUPPE. In a first step the Bundeskartellamt had already cleared the takeover of several women's magazines and some regional and advertising newspapers around Hamburg (see press release of 3 December 2013). The planned joint ventures by FUNKE and Springer for the marketing of advertisements and the distribution of print media are still being examined.
