'Early stage' merger talks between German media giants

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'Early stage' merger talks between German media giants

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Talk of a possible merger between German media giants ProSiebenSat.1 and Axel Springer have resurfaced.

A previous takeover of the TV network by Europe’s biggest newspaper publisher was blocked by competition watchdog a decade ago.

A source told the Wall Street Journal that renewed talks are at an early stage.

It’s believed that ProSeibenSat.1 – which runs Germany’s highest rated private TV channels – will emerge as the senior partner.

The companies’ combined market capitalisation is about 14.4 billion.

Last year a German court said the competition regulator had been wrong to block the previous takeover.