Axel Springer AG is selling its TV guide and women's magazines as well as the regional newspapers in Berlin and Hamburg to Funke Media group as agreed by both publishing houses in a letter of intent on July 25, 2013. Additionally, joint ventures are to be created for ad marketing and sales.
Led by Düsseldorf-based partner Dr. Rainer Velte, Heuking Kühn Lüer Wojtek advised Funke Media Group on merger control and antitrust law. Approval by the merger control and antitrust authorities is pending. The regional newspapers and magazines are to be sold effective January 1, 2014.
In addition to the regional newspaper groups Berliner Morgenpost and Hamburger Abendblatt and the TV guide and women's magazines, Funke Media group is also acquiring the associated digital media and the advertising papers in Berlin and Hamburg from Axel Springer AG. Funke Media group, formerly WAZ media group, publishes regional newspapers Westdeutsche Allgemeine Zeitung (WAZ), Neue Ruhr/Rhein Zeitung (NRZ), Westfälische Rundschau (WR) and Westfalenpost (WP) in North Rhine-Westphalia.
Counsel to Funke Media Group
Heuking Kühn Lüer Wojtek, Düsseldorf:
Dr. Rainer Velte (Lead),
Beatrice Stange, LL.M., both Antitrust Law