Competition office rejects RTL bid to buy stake in Central Digitalis Media

Budapest (MTI) – Hungary’s competition authority (GVH) has denied approval for commercial broadcaster Magyar RTL Televizió’s bid to buy a 30 percent stake in Central Digitalis Media (CDM).

RTL sought permission last October to buy the stake in which it would have acquired management rights in CDM, an advertising company and online content provider, according to a GVH statement on Monday.

Under Hungary’s media law, GVH turned to the media authority (NMHH) for its position on the potential deal to buy the stake in CDM. NMHH refused its approval so the GVH was obliged to reject RTL’s bid for a stake in the company that operates websites startlap.hu, 24.hu, NLCafe, HaziPatika.com, Vezess.hu, and Hirstart.hu.

GVH said the application in respect of Citromail.hu and SegmentAd was beyond the scope of its authority.

Source: MTI