BMW

A- A A+

ACCC says it won't oppose Nine Fairfax takeover

The Guardian  |  08 November 2018  |  News

The competition watchdog has confirmed it will not oppose a planned merger between Nine and Fairfax Media, paving the way for two of Australia’s largest media companies to combine by the end of the year.

The Australian Competition and Consumer Commission said on Thursday it would not block Nine’s takeover despite acknowledging that it would reduce competition.

The ACCC chair, Rod Sims, said the merger would “likely reduce competition” but added that it was not “likely to substantially lessen competition in any market in breach of the Competition and Consumer Act”.

“This merger can be seen to reduce the number of companies intensely focusing on Australian news from five to four,” he said. “Post the merger, only Nine-Fairfax, News/Sky, Seven West Media and the ABC/SBS will employ a large number of journalists focused on news creation and dissemination.”

BMW

The Nine network welcomed the decision by the regulator and is now concentrating on winning the support of Fairfax shareholders later this month.

Read More: https://www.theguardian.com/media/2018/nov/08/nines-takeover-of-fairfax-media-can-go-ahead-competition-watchdog-says

 

 


Submit a comment

Word Count: 0

Mercedes


Quick Poll

Which stock will rank best
BHP
CBA
GOOGL
AAPL
MSFT

 


Similar articles from News

Fossil fuels are a threat to civilisation

The Intercept. 14/10/2018.

AROUND THE MIDDLE of the last century, the chemical DDT was found to pose a risk to human and animal health. The ultimate response - after a prolonged..


The literature of liberalism

The Economist. 17/09/2018.

The fourth and final instalment in our project to build a reading list of great liberal thinkers. The definition of liberalism has long been the sourc..


BMW