Portugal
[PT] Controlinveste/Lusomundo Serviços: Deliberation on Acquisition Operation
IRIS 2005-9:1/32
Luís António Santos
Departamento de Ciências da Comunicação, Instituto de Ciências Sociais, Universidade do Minho
On 10 August 2005, the Portuguese Autoridade da Concorrência (Competition Authority) decided to approve the concentration operation involving Controlinveste, SGPS, S.A. and Lusomundo Serviços, SGPS, S.A. The decision found its justification in the argument that such an operation was not “susceptible of creating or reinforcing a dominant position from which significant impediments to competition in the general national written press market might arise”.
This operation, of which the Competition Authority had been notified on 9 March, has led to Controlinveste's purchase of PT Multimedia's entire participation in Lusomundo Serviços, thereby acquiring exclusive control of the company. In delivering this deliberation, the Competition Authority had requested a statement on the matter from the High Authority for Social Communication. A favourable opinion was pronounced on 13 April.
Prior to this operation, Controlinveste's interests in the media sector included owning a daily sports newspaper (O Jogo), participation in a pay- TV sports channel (Sport TV), a stake in the sports field advertising business, and TV rights to sports events. By acquiring Lusomundo Media, the group has added three major daily newspapers to this media portfolio (Diário de Notícias, Jornal de Notícias and 24 Horas), one national news radio station (TSF), weekly and specialized magazines, and several regional newspapers and radio stations, making it one of the largest media groups in Portugal.
References
- 17/2005 CONTROLINVESTE/ LUSOMUNDO SERVIÇOS - Processo: Autoridade de Concorrência - DOPC-Ccent. N.º17/2005 CONTROLINVESTE/ LUSOMUNDO SERVIÇOS
- http://www.autoridadedaconcorrencia.pt/Aconcorrencia_prd.aspx?prd=A000000000003802&Idmenu=2
- Decision of The Competition Authority 17/2005 CONTROLINVESTE/ LUSOMUNDO SERVIÇOS
- COMUNICADO 13.Abril.2005 - CONCLUSÕES DO PARECER SOLICITADO PELA AUTORIDADE DA CONCORRÊNCIA SOBRE A OPERAÇÃO DE CONCENTRAÇÃO DE EMPRESAS QUE CONSISTE NA AQUISIÇÃO DE CONTROLO EXCLUSIVO DA LUSOMUNDO SERVIÇOS, SGPS, S.A., PELA CONTROLINVESTE, SGPS, S.A.
- http://www.aacs.pt/bd/Comunicados/20050413.htm
- Statemennt of The High Authority for Social Communications
- PT Multimedia comunica execução da alienação da Lusomundo Serviços
- http://www.ptmultimedia.pt/pdfs/FCHLMDP.pdf
- Announcement by PT Multimedia of the operation
This article has been published in IRIS Legal Observations of the European Audiovisual Observatory.