News, 31 May 2011
The FCA today approved a transaction whereby Bonnier Boks part of the Swedish Bonnier Group acquires the Werner Söderström Oy publishing house of general fiction from the Sanoma Group. Kustannusosakeyhtiö Tammi owns Bonnier Books and is part of the Bonnier Group since 1996
The FCA investigated the impacts of the arrangement both on the procurement markets of publishing rights and the wholesale and retail market of books. The markets of general fiction, children's and young people's books and comics were all examined separately. The new concentration has major competitors on all the above-mentioned markets, including Otava and Gummerus. Several small publishing houses are also active in the field (e.g. Teos and Siltala), which form a counterforce to the concentration.
It is the FCA's view that both the authors and the customers will have a sufficient number of options available even after the transaction and the concentration cannot behave independently of its competitors and customers. The FCA finds that the transaction will not result in the creation or strengthening of a dominant position which would significantly prevent competition in the said markets.
No approval necessary for teaching materials
Simultaneously with the transaction notified to the FCA, the Sanoma Group acquires the Teaching materials business of Tammi and the Bonnier Utbildning business part of the Bonnier Group, which consists of publishing teaching materials in Sweden. The transaction did not have to be notified to the FCA as the turnover thresholds in the law were not exceeded.
The FCA is only empowered to examine transactions in which the combined turnover of the parties exceeds 350 million euros and the turnover of a minimum of two parties accrued from Finland exceeds 20 million euros.
The FCA's decision contains several business secrets of the parties and may be published only after these have been omitted, i.e. in roughly two weeks' time.
Head of Research Maarit Taurula
Research Officer Kaisa Kokko