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Axel Springer SE: KEK approves acquisition of N24

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Axel Springer SE: KEK approves acquisition of N24

Following the Federal Cartel Office, the German Commission on Concentration in the Media (KEK) has now also granted its approval for the acquisition of N24 Media GmbH by Axel Springer SE. The KEK decided in its meeting on 11 February 2014 that the acquisition is in compliance with media law.

Jan Bayer, Executive Board Member of Axel Springer SE and Chairman of the Management Board of the new Group: "Given the cartel and media law approval, we are now able to establish the leading multimedia news organization for quality journalism in the German-speaking world with the WELT Group and N24. We will develop a concept for this cooperation together over the next few weeks."

Axel Springer SE announced the acquisition of the news channel N24 on 9 December 2013. The Federal Cartel Office approved the transaction on 7 February 2014.

media contact: Svenja Friedrich