, we address three research questions: (i) Is the current development of analyzing industry with its recent merger activity … merger control in this industry, as well as a more active abuse control against already vertically-integrated media companies. …

to the merger. We show that a PPO reduces the minimal synergy level necessary to make a merger beneficial for consumers …. It follows that an antitrust authority ignoring existing PPOs when evaluating merger proposals (which reflects the … current EU merger control regime) invites sneaky takeovers: Acquiring firms strategically use PPOs prior to a full merger …

merger may have an incentive to collude instead. We discuss implications for antitrust and merger policy. …