The German newspaper that filed for insolvency last November, Frankfurter Rundschau, appears to have been saved after Germany's competition commission approved its takeover by Frankfurt's Allgemeine Zeitung.
But hundreds will lose their jobs. It is reported by Deutsche Welle that only 30 or so of the paper's 450 staff will be invited to stay on.
Insolvency administrators previously rejected as unsustainable a rival purchase bid for the paper from the Turkish media concern Burak Akbay.
Source: Deutsche Welle
