The Croatian Competition Agency (CCA) approved, at Phase I, a concentration arising from the acquisition of direct control on a permanent basis by Telegram Media Grupa d.o.o., Zagreb, over the undertakings Media Stop d.o.o., Zagreb, Zagreba\u010dki radio Plavi 9 d.o.o., Zagreb, Gradski radio d.o.o., Osijek, and Radio Trsat d.o.o., Rijeka.<\/p>\n
The transaction is implemented by way of the acquisition of direct controlling interest, within the meaning of Article 15 paragraph (1) item (2) of the Croatian Competition Act, specifically through the acquisition of 75% of the share capital of each of the target undertakings.<\/p>\n
The CCA received a complete notification of the concentration on 26 February 2026, pursuant to Article 20 paragraph 6 of the Competition Act. The notification was submitted by Telegram Media Grupa d.o.o. as the notifying party, in accordance with Articles 19 and 20 of the Competition Act and Article 36 of the Media Act.<\/p>\n
On 3 March 2026, the CCA published a request for information on its website inviting interested third parties to submit observations on the proposed concentration. Within the prescribed deadline, which expired on 13 March 2026, one submission from a third party was received. The CCA found that the submission did not contain relevant information regarding the assessment of the concentration and therefore did not affect the competitive assessment.<\/p>\n
The concentration will primarily produce effects on the radio broadcasting market and radio advertising market in the Republic of Croatia. The relevant geographic markets comprise the City of Zagreb (Zagreba\u010dki radio Plavi 9), Osijek (Gradski radio), and Primorje-Gorski Kotar County (Radio Trsat).<\/p>\n
Prior to the transaction, Telegram Media Grupa d.o.o. was not active in the affected markets. The target undertakings jointly form the \u201cLaganini FM\u201d radio network, while Media Stop d.o.o. is active in advertising sales and programme production services related to that network. The target undertakings are therefore vertically and functionally linked within the Laganini FM group. Telegram Media Grupa d.o.o. is primarily active in the market for electronic publications (online portals) and digital advertising and is also present in print media through magazine publishing.<\/p>\n
The relevant markets are characterised by the presence of a number of competing radio broadcasters, including operators holding national concessions, which achieve significant audience shares and advertising revenues. In the City of Zagreb, Laganini FM has an estimated audience share of approximately 10\u201320%, while leading competitors hold significantly higher shares. Comparable market conditions exist in Osijek and in Primorje-Gorski Kotar County, where the target undertakings hold relatively limited market shares.<\/p>\n
As the notifying party was not active in the relevant markets prior to the transaction, the concentration does not give rise to horizontal overlaps or vertical relationships between the parties, nor does it lead to a change in the structure of the affected markets.<\/p>\n
The CCA concluded that the concentration does not raise serious competition concerns as to its compatibility with the relevant market, within the meaning of Article 16 of the Competition Act, as it is unlikely to significantly impede effective competition, in particular as it neither creates nor strengthens a dominant position of its participants.<\/p>\n