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Business

Berlin Newspaper Takeover Blocked

Verlagsgruppe Georg von Holtzbrinck, a media conglomerate, has had its planned acquisition of Berlin daily newspaper Berliner Zeitung blocked by the German cartel office. The cartel office said on Wednesday that the move would create a dominant player in the city since Holtzbrinck also owns Berlin daily Der Tagesspiegel. "The merger would have created a market-dominating position for Holtzbrinck on the market for regional quality dailies in Berlin," the cartel office said in a statement. Holtzbrinck can appeal the decision in court, it said. The media company has yet to make a statement on the decision but has already announced legal steps against a possible block when it received a statement of objections from the cartel office last year.