The German monopoly commission Bundeskartellamt has given the go-ahead for the takeover of all news channel N24 by Axel Springer publishers.
The authority okayed the deal, as N24 is only a niche channel with a relatively low audience share and, as a result, receives only a very small amount of the total TV advertising market.
Following the acquisition, Springer plans to put together the editorial teams of its Die Welt newspaper with the N24 news room in order to create a multi media news operation.
N24 will also become the central provider of video material for all Springer multi media brands.
Stefan Aust, currently a shareholder in N24 Media GmbH with others, is the new publisher of the Die Welt group.
N24 was previously owned and operated by ProSiebenSat.1 Media and still supplies regular news updates to ProSiebenSat.1 Media channels such as Kabel eins, Sat.1 and ProSieben.
