Springer's planned buyout of ProSieben is called off.

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  • Additional Information
    • Subject Terms:
      GERMANY
    • Subject Terms:
      PROSIEBENSAT.1 Media AG; AXEL Springer SE
    • Abstract:
      The article reports that Axel Springer AG's multibillion-dollar takeover of German broadcaster ProSiebenSat.1 Media AG is off after an announcement on Monday that Springer is not willing to sell Munich-based channel Pro7 before media authorities approve the deal. Springer's refusal means Germany's cartel office is certain to reject the deal. The office is scheduled to make its final ruling on the Springer-ProSieben agreement by January 20, 2006. Last week, Springer offered to sacrifice Pro7 in 3 last-ditch effort to get German media watchdogs to approve the merger.