The German Federal Cartel Office in Bonn has given the green light to Viacom's planned acquisition of Cologne-based media company Viva Media.

The German Federal Cartel Office in Bonn has given the green light to Viacom's planned acquisition of Cologne-based media company Viva Media.

The German regulatory body cleared the deal on grounds that it will not lead to a dominant position in any of the relevant markets the companies are active in.

The cartel office declared that there was no risk of a dominant market position arising with respect to the music broadcasters' target group, which focuses on TV viewers in the 14-29 demographic.

Advertisers primarily wishing to reach this age group also booked advertising space with other large broadcasters, who are freely able to extend their range of music broadcasts at any time, the authority notes.

MTV parent Viacom on June 24 confirmed its ambition to acquire full ownership of Viva Media in a deal value at about €308.66 million ($373 million). At the time, Viacom executives anticipated that the German regulators would clear the deal within 90 days.

“This is the first important regulatory approval for our shareholder agreement, and we eagerly await further approval from the KEK (Germany's Commission to Determine Concentration in the Media Sector) which also must authorize our deal,” comments MTV Networks Central Europe's managing director Catherine Muhlemann in a statement.

The new entity will regroup all of Germany's most popular music TV channels--MTV, MTV2 Pop, Viva and Viva Plus.

Questions? Comments? Let us know: @billboardbiz

Print