CELEX: 32021M10318
Language: en
Date: 2021-07-07 00:00:00
Title: Commission Decision of 07/07/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10318 - APOLLO MANAGEMENT / VERIZON MEDIA GROUP) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 7.7.2021
                                                                C(2021) 5198 final
                                                                                PUBLIC VERSION
                                                                Apollo Management, L.P.
                                                                9 West 57th Street, 43rd Floor
                                                                NY 10019 – New York
                                                                United States of America
Subject:        Case M.10318 - APOLLO MANAGEMENT / VERIZON MEDIA GROUP
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                        1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 15 June 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Investment
        funds managed by affiliates of Apollo Management, L.P. (“Apollo Management”,
        USA), acquire within the meaning of Article 3(1)(b) of the Merger Regulation sole
        control over the whole of Verizon Media Netherlands B.V., (the Netherlands) and
        Oath Inc. (USA) and certain subsidiaries (together, the “Verizon Media Group”) by
        way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
        −     for Apollo Management: investment fund that invests in companies active in
              various sectors, including education, insurance and financial services,
        −     for Verizon Media Group: diverse media and technology brands that serve both
              consumers and businesses.
1       OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on
        the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the
        replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology
        of the TFEU will be used throughout this decision.
2       OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).
3       Publication in the Official Journal of the European Union No C245, 24.06.2021, p.33.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.
 ---pagebreak--- 3. After examination of the notification, the European Commission has concluded that
   the notified operation falls within the scope of the Merger Regulation and of
   paragraph 5(c) of the Commission Notice on a simplified procedure for treatment of
   certain concentrations under Council Regulation (EC) No 139/2004. 4
4. For the reasons set out in the Notice on a simplified procedure, the European
   Commission has decided not to oppose the notified operation and to declare it
   compatible with the internal market and with the EEA Agreement. This decision is
   adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of
   the EEA Agreement.
                                                  For the Commission
                                                  (Signed)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p.
                                              2