Media Regulation and Merger Control: The European Media Freedom Act (EMFA)

EMFA aims to strengthen media pluralism within the EU's internal market

The EMFA is a landmark advance for EU media regulation and mandates structural safeguards with greater regulators' power to attach remedies to media mergers.

EMFA regulates the internal market for media services, which include television and radio broadcasts, on-demand audiovisual platforms, audio podcasts, press publications (digital and print), and platforms like news websites or digital magazines. Even very large online platforms are covered if they exercise editorial control. Editorial responsibility is central to the definition of media service—providers must have control over content choice and the manner of its dissemination.

As to content regulation, the new rules include safeguards against unwarranted removal of media content by large online platforms, protection of journalistic sources, and guarantees for public service media funding and editorial freedom. While most EMFA provisions now apply, rules allowing users to customize media content options on their devices will be activated in May 2027.

EMFA intends competition in terms of pluralism, meaning that Member States must assess media mergers based not only on economic competition but also on pluralism. The rules apply to all media acquisitions—print, broadcast, online, podcasts, and deals involving digital platforms exercising editorial responsibility. While EMFA does not set rigid, quantitative market share thresholds, the new media-merger plurality test aims to assess media mergers based on cross-media concentration, their influence over public opinion, editorial independence, and financial sustainability, not just competition law.

The institutional architecture of the new legislation: the European Commission and a newly established Media Board will issue guidelines and advisory opinions to ensure consistent application across member states. Full predictability will depend on detailed Commission guidance, consistent national practices, and case-law development, and the Commission's power to initiate infringement proceedings if EU law is not properly respected at the national level.

How does EMFA interact with the EU Merger Regulation? The European Commission is not the primary decision-maker for media mergers, unlike its central role in the EU Merger Regulation. The Commission may clear a merger on competition grounds, but that same transaction could still be subject to additional review or remedies by national authorities under EMFA for risks to media pluralism or editorial independence.