The European Commission has approved the proposed takeover of Central European Media Enterprises (CME) by Time Warner.
In a statement, it says that it “examined the effects of the proposed transaction on competition in the markets for the licensing of audio-visual TV content, the wholesale supply of TV channels, the sale of TV advertising, the licensing and distribution of films for theatrical release, and the licensing and distribution of home entertainment content in Bulgaria, Czech Republic, Hungary Romania, Slovak Republic and Slovenia”, namely the six CEE markets CME is present in.
Under EU Merger Regulation, the proposed transaction would in its view “not have negative effects on competition, since the activities of the parties are mainly complementary and not in direct competition with each other”.
Time Warner currently holds a 49.9% stake in CME and the approval will give it voting rights proportionate to the stake.
