Budapest, May 5, 2026 – The Hungarian Competition Authority (GVH) has launched an investigation into the so-called Indamedia-Ringier acquisition. The GVH has deemed that the contradictions arising in relation to this transaction – which was not subject to mandatory notification under the law – can only be adequately clarified through a competition supervision proceeding.
On October 30, 2025, Ringier Hungary Kft. and the publications in its portfolio were acquired by Indamedia Network Zrt. The transaction was not subject to notification under the Hungarian competition regime, as the combined net turnover of the groups of undertakings involved did not reach HUF 20 billion. Therefore, it was not mandatory to notify the GVH of the merger. Even though since the amendment of the Hungarian Competition Act on January 15, 2017, the GVH has the power to examine smaller mergers in a separate competition supervision proceeding if the combined turnover of the parties exceeds HUF 5 billion and the risk of a significant reduction in effective competition in the relevant market cannot be ruled out, on the basis of the information provided during the pre-notification contact, the GVH found no reason to initiate proceedings ex officio.
On March 2, 2026, a formal complaint about the transaction was received by the GVH. Based on the new information provided by the complainant, the GVH determined that, due to the contradictions and uncertainties among the data provided by the parties and that of the complainant, the competitive effects of the transaction could only be conclusively determined in a competition supervision proceeding.
It is important to note that under the Hungarian Competition Act, the GVH’s jurisdiction extends exclusively to assessing the competitive effects of mergers; ensuring that the requirement for diverse information is met, and examining related aspects fall within the jurisdiction of the Media Council of the National Media and Infocommunications Authority, which acts as a special authority in relation to the competition supervision proceeding. The GVH acts in accordance with the provisions of the law in all merger review cases.
The initiation of a competition supervision proceeding does not imply that the merger has adverse effects on competition and that it requires intervention; furthermore, in cases meeting only the mandatory notification thresholds, the implementation of the transaction without prior notification does not constitute a violation of the prohibition on implementation. The purpose of the proceeding is to clarify the facts and to determine and assess the effects on competition. The statutory timeframe for the proceeding is four months, which may be extended once, by up to two months, if justified.
It is important to emphasize that pre-notification contacts are informal procedures during which it is the parties’ responsibility to conduct a preliminary evaluation and risk assessment of the proposed transaction from a competition law point of view. The GVH assumes that the information provided by the undertakings is complete and accurate. If the undertakings provide information on the relevant markets and segments that is appropriate and consistent with information accepted in previous proceedings, then the GVH will determine whether it may be warranted to notify the merger in cases such as this on the basis of the data provided to it by the parties. However, if the Authority, on its own initiative or based on information from third parties, finds that the analysis presented by the undertakings during the pre-notification contact was not exhaustive, and if it becomes aware of new facts or information on the basis of which the absence of competition concerns is not obvious, the fact that pre-notification contact had been initiated in relation to a transaction does not preclude the initiation of a potential competition supervision proceeding.
The official registration number of the case is VJ/14/2026.
GVH Press
Further information:
Horváth Bálint, Head of Communications +36 20 238 6939