Axel Springer gains regulatory nod for N-24 Media deal

FRANKFURT Fri Feb 7, 2014 5:40am EST

FRANKFURT Feb 7 (Reuters) - The German cartel office has approved the acquisition of German news publisher N24 Media by Axel Springer, it said on Friday.

"N24 is a niche channel, which has only a small audience reach and a small market share in the TV advertising market," Andreas Mundt, head of the competition watchdog, said in a statement about the deal announced in early December.

N24 Media owns German language news channel N24 and also produces news for free-to-air channels ProSieben, Sat.1 and Kabel Eins, all owned by ProSiebenSat.1. (Reporting by Harro ten Wolde; Editing by David Goodman)