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Hengeler Mueller Advises on Newspaper and Magazine Sale to Funke

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Hengeler Mueller has advised Axel Springer on the sale of regional newspapers, TV program guides, and women’s magazines to Funke Mediengruppe (FMG).

The German Federal Cartel Office had previously granted approval for the transfer of program guides subject to certain conditions. To comply with these conditions, FMG sold a number of its own program guides and some of the program guides acquired from Axel Springer to the Klambt Media Group.

In July 2013, Axel Springer entered into an agreement with FMG to sell the Berliner Morgenpost and Hamburger evening paper as well as its TV program guides and women's magazines for EUR 920 million and to create joint ventures for distribution and marketing. On May 1, 2014, Axel Springer and FMG began co-operating in the fields of marketing and distribution on the basis of mutual service agreements. The creation of joint ventures will require the approval of the relevant merger control and antitrust authorities.

Axel Springer operates in Russia -- as part of a joint venture with Ringier Axel Springer Media – and in Poland, Serbia, Slovakia, the Czech Republic, and Hungary, as well as India, and many countries in Western Europe.

Hengeler Mueller provided comprehensive advice to Axel Springer on the transaction. The Hengeler Mueller team was led by Partners Christophe Jackle and Karsten Schmidt-Hern, included Partners Nicolas Boehm, Jens Wenzel, and Carsten Schapmann, as well as Associates Vera Jungkind, Annika Clauss, Robert Kilian, Anika Gilberg, and Thomas Meyer. Partners Andreas Austmann was also involved.

 

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