The Croatian Competition Agency (AZTN) on Friday okayed the intention of the implementation of concentration as a result of the takeover of RTL Croatia by CME Media.

The AZTN finds that this is a horizontal concentration in the media market. CME is not present on the relevant markets in Croatia, and this concentration enables it to take over the RTL position, which will not change the structure of the market, says the regulator.

In mid-February the PPF Group said that its CME Media Enterprises (CME) subsidiary had signed an agreement to acquire 100% of the RTL Croatia commercial broadcaster, whose assets are valued at €50 million.

As part of the transaction, CME has secured the long-term rights to retain the use of the RTL brand in Croatia.

This transaction is subject to customary closing conditions, including regulatory approval from the Croatian Competition Authority and the Croatian Agency for Electronic Media. Closing is expected in mid-2022.

CME currently owns and operates VOYO, the leading Central European SVOD platform as well as five other leading television stations in Bulgaria, the Czech Republic, Romania, Slovakia, and Slovenia. It broadcasts 33 TV channels and reaches 45 million viewers.

The PPF Group operates in 25 countries and invests in a number of sectors, including financial services, telecommunications, media, biotechnology, real estate, and engineering. Its assets total €40.3 billion, and it employs 82,000 people across the world.