June 25 (SeeNews) - Romania's competition authority said that it is looking into the recent takeover of local Prima TV by Clever Business Transilvania media group.
In order to determine whether the concentration is compatible with a normal competitive environment, the Competition Council will consider the notified transaction under the merger regulation, the institution said in a press release on Wednesday.
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The anti-trust body will make a decision within 45 days after the notification becomes effective, it added.
Clever Business Transilvania will acquire the Prima TV business from Prima Broadcasting, a company currently in judicial reorganization.
Clever Business Transilvania owner Adrian Tomsa has several investments in Romania's media sector, including TV channels LookPlus and LookSport, AgroTV and Profit.ro website, according to information from the competition council.
Prima TV was one of the first commercial television stations in Romania that started to broadcast in 1997. Its operator Prima Broadcasting declared insolvency in 2015 and entered judicial reorganization in 2017, according to data posted on the finance minsitry website.