Blackstone Drops Out of Bidding for German Football Media Rights Deal

Blackstone Inc. has dropped out of the bidding for a controversial football media rights deal in Germany, according to people familiar with the matter, following a backlash from fans critical of foreign capital.

The buyout firm abandoned its pursuit amid concerns about how long a deal could take to come to fruition, according to the people. Structuring and economic factors also made it hard for Blackstone to see how to make a transaction work, the people said, asking not to be identified because the information is private.

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