Court Keeps Block on Axel Springer's ProSieben Acquisition

DUESSELDORF, December 4: A
German court has upheld a decision by regulators to block plans by publishing
giant Axel Springer to acquire broadcaster ProSiebenSat.1.

Springer
said that it will decide whether to file an appeal after reviewing the full
verdict. The Berlin-based publisher,
behind the European tabloid Bild,
pulled out of its planned 2.5 billion euro purchase of ProSiebenSat.1 in early
2006 after regulatory concerns arose. German media and antitrust regulators had rejected
the combination due to fears concerning control over public opinion and
advertising markets.

Shares in ProSieben fell
some 4 percent after the decision was announced, and Springer stock was down
nearly 1 percent.

—By Kristin
Brzoznowski