# Bundeskartellamt Clears Acquisition of Zeitverlag > The Bundeskartellamt allows Holtzbrinck sole control of Zeitverlag and sees no competition concerns. Source: https://www.mtrlegal.com/en/bundeskartellamt-clears-zeitverlag-acquisition/ · Language: en · Updated: 2026-10-25 --- ## Bundeskartellamt clears acquisition of control over Zeitverlag The Bundeskartellamt (Federal Cartel Office) has cleared the acquisition of sole control over Zeitverlag Gerd Bucerius GmbH & Co. KG by Verlagsgruppe Georg von Holtzbrinck. The transaction concerns the acquisition of the 50 percent stake in Zeitverlag previously held by Dieter von Holtzbrinck Medien GmbH. With the transaction, Verlagsgruppe Georg von Holtzbrinck is moving from joint control over Zeitverlag to sole control. For this reason, the transaction was subject to merger control. According to press reports, completion of the share transfer is planned for 1 January 2027; only from that date is Verlagsgruppe Georg von Holtzbrinck expected to exercise sole control. ## Competition-law assessment by the authority ### No competition concerns following review According to the assessment of the Bundeskartellamt, the transaction does not raise competition concerns. The President of the Bundeskartellamt, Andreas Mundt, stated that Verlagsgruppe Georg von Holtzbrinck had already held an interest in Zeitverlag for many years and was now once again acquiring sole control. In addition, Georg von Holtzbrinck has no other activities in the field of national daily or weekly newspapers. The clearance therefore does not concern an initial investment in Zeitverlag, but rather a change in the existing control structure. The decisive factor is that Verlagsgruppe Georg von Holtzbrinck already held an interest in the publishing house and that the previously shared control is now to be replaced by sole control. ### Announcement subject to antitrust clearance According to press reports, the transaction had already been publicly announced on 3 June 2026. The announcement was expressly subject to approval by the competition authority. With the [clearance by the Bundeskartellamt](https://www.bundeskartellamt.de/SharedDocs/Meldung/DE/Pressemitteilungen/2026/09_24_2026_Zeit_Holtzbrinck.html), this merger-control requirement has been satisfied; based on the available information, actual completion remains scheduled for 1 January 2027. ## Publishing groups involved and historical background ### Zeitverlag part of Georg von Holtzbrinck since 1996 Zeitverlag has been part of Verlagsgruppe Georg von Holtzbrinck since 1996. In 2009, Dieter von Holtzbrinck Medien GmbH acquired a 50 percent stake in Zeitverlag. Since then, joint control has existed, which is now to be ended by the acquisition of the stake held by Dieter von Holtzbrinck Medien GmbH that has now been cleared. Upon completion, Verlagsgruppe Georg von Holtzbrinck will again hold Zeitverlag alone after 17 years. Behind Verlagsgruppe Georg von Holtzbrinck is Stefan von Holtzbrinck, who, following clearance and the planned completion, will in future exercise sole control over Zeitverlag. The seller is Dieter von Holtzbrinck; the purchaser is his half-brother Stefan von Holtzbrinck. The transaction is therefore taking place within the publishing family. ### Contractually envisaged consolidation of the ownership structure According to press reports, the consolidation of the ownership structure between the shareholders had already been contractually envisaged for some time. It is taking place as part of a long-term ownership strategy. Based on the information considered, no details are available regarding a purchase price or a publicly known case reference of the Bundeskartellamt. According to the parties involved, the strategic course of the ZEIT publishing group is to be maintained despite the change in ownership. The clearance therefore changes the ownership and control structure, without the available information indicating any change in editorial or business direction. ## Business areas of Zeitverlag and Verlagsgruppe Georg von Holtzbrinck ### Publications of Zeitverlag Zeitverlag publishes in particular the weekly newspaper “DIE ZEIT”. In addition, various magazines form part of the publishing offering, including: - “ZEIT CAMPUS” - “ZEIT WISSEN” - “ZEIT LEO” The antitrust assessment by the Bundeskartellamt is linked to the change of control over Zeitverlag. It was emphasised in this context that Georg von Holtzbrinck has no other activities in the field of national daily or weekly newspapers. ### Further areas of activity of Georg von Holtzbrinck Verlagsgruppe Georg von Holtzbrinck is an international media company. In addition to its interest in Zeitverlag, it is active in several areas. These include trade publishing, science, digital media, and learning and teaching materials. Against this background, the clearance of the transaction concerns the acquisition of sole control over Zeitverlag, but does not constitute any broader statement on all markets in which the corporate group is active. ## Further changes on the seller’s side According to press reports, a further restructuring step is to take place on the seller’s side as of 1 January 2027. Handelsblatt Media Group, Tagesspiegel Verlag and Dieter von Holtzbrinck Medien are to be combined into the new group Holtzbrinck Media. This new group is to be led by CEO Andrea Wasmuth. Investments in editorial teams, technology and new business areas have also been announced. This reorganisation is separate from the sale of the 50 percent stake in Zeitverlag and concerns the future structure on the side of Dieter von Holtzbrinck. ## Significance of the clearance for merger control The decision of the Bundeskartellamt shows that a shift from joint to sole control can also be relevant under merger control law. What matters is not only whether an acquirer already holds an interest, but whether the nature of control over a company changes. For companies, investors and shareholders, such a structural change can carry considerable review significance. This applies in particular to acquisitions of shareholdings, intra-family transactions, media investments and long-term ownership strategies. For legal questions relating to concentrations, acquisitions of shareholdings and antitrust clearances, MTR Legal provides support as part of its [legal advice in competition law](https://www.mtrlegal.com/rechtsberatung/wettbewerbsrecht/).