German anti-trust authorities on Wednesday approved the takeover of the Frankfurther Rundschau newspaper by the centre-right daily Frankfurter Allgemeine Zeitung (FAZ).
The Federal Cartel Office said there were no monopoly concerns for readers and the advertising market in Germany. The deal to takeover the insolvent Rundschau is expected to be signed Thursday.
FAZ will keep 28 of Frankfurter Rundschau's editorial staff. Hundreds of Rundschau employees have already received notices terminating their employment. The Frankfurter Rundschau filed for bankruptcy last November after massive losses linked to falling circulation.