The Federal Cartel Office approved the acquisition of N24Media GmbH by Axel Springer SE today, on 7 February 2014.
Axel Springer SE announced the acquisition of the news channel N24 on 9 December 2013. As part of the acquisition, there are plans to merge N24 and the WELT Group in order to establish the leading multimedia news organization for quality journalism in the German-speaking world.
The N24 Group is Germany's largest independent producer in the information sector. Almost 300 employees work for the Group and its subsidiaries N24 and MAZ&More. With the N24 news channel, the company operates the market leader among German news broadcasters. N24 also produces the main news bulletins for SAT.1, ProSieben and kabel eins. The weekday program "SAT.1 Frühstücksfernsehen" ("SAT.1 Breakfast TV") is produced by MAZ&More.
The transaction is still subject to approval by the German Commission on Concentration in the Media (KEK).
media contact: Svenja Friedrich