Hungarian Competition Office Approves Andy Vajna’s Acquisition Of TV2

  • 2 Nov 2015 8:00 AM
Hungarian Competition Office Approves Andy Vajna’s Acquisition Of TV2
The competition office GVH has approved Magyar Broadcasting Co’s acquisition of direct sole control over commercial television channel TV2 and CEE Broadcasting Ltd, GVH told MTI. Magyar Broadcasting Co. is owned by the government’s film industry commissioner, producer Andy Vajna.Magyar Broadcasting Co submitted a request to GVH on October 16 to clear the acquisition of companies operating commercial broadcaster TV2.

GVH has established that the broadcaster TV2-CEE group and the Vajna group, which primarily operates casinos and distributes films, perform different activities, therefore, the increase in concentration, the main competition concern associated with mergers, does not arise in the case of this transaction.

GVH said the approval of the acquisition of control does not mean that GVH has taken a position on a possible civil law dispute on the matter, adding that taking a decision on such a dispute is up to the court.

There has been widespread speculation over the ownership of TV2 as news portal Index earlier reported that TV2 had already been bought on October 13 by Megapolis Media, owned by Károly Fonyó, who is a business associate of Lajos Simicska, a business magnate who earlier had a falling out with the prime minister.

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