BERLIN — Germany’s antitrust watchdog on Wednesday (April 12) approved RTL Group’s complete takeover of its affiliated news channel N-TV.
RTL, which held a 50% stake in the web, agreed in November to buy the remaining half from fellow shareholder CNN.
RTL has been eyeing the channel for years and in 2003 inked a first-buy option for the web with CNN parent Time Warner.
Company declined to provide financial details of the deal.
N-TV currently has a market share of 0.6% and is on par with ProSiebenSat1’s rival news web N24.
CNN had been an N-TV shareholder since 1993. RTL acquired its main stake in the web in 2002 as part of an asset swap between parent company Bertelsmann and N-TV’s former owner, publishing group Holtzbrinck.
In Germany, RTL also operates flagship channel RTL Television and Vox and has stakes in RTL 2 and tyke web Super RTL.