RTL said Monday that a proposed merger between its Dutch unit, RTL Nederland, and Talpa Network has been stopped after the Dutch competition authority ACM said it wouldn’t grant approval.
The European media group said it and Talpa Network have cooperated with ACM during its in-depth review and made proposals to address its concerns regarding the position of the combined entity in the Dutch advertising market. The proposed remedy was to outsource the advertising sales of Talpa Network’s TV channels to media company Mediahuis Nederland, but ACM indicated it didn’t mitigate its concerns, RTL Group said.
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The proposed deal was initially announced in June 2021, RTL Group said. “We remain convinced that market consolidation is necessary to compete with the global tech platforms–and that market consolidation will happen in the European TV markets sooner or later,” RTL Group Chief Executive Thomas Rabe said.