Competition watchdog approves multibillion-dollar Nine and Fairfax merger
Australia’s competition watchdog has signalled it may NOT approve other big media mergers, after giving the green light to a multibillion-dollar deal.
The ACCC has approved a $4-billion deal between Nine Entertainment and Fairfax Media (Macquarie Radio’s majority shareholder), with another big merger expected between Channel 7 and News Corp.
But ACCC Chairman Rod Sims says that would raise other questions.
He says the Nine and Fairfax merger isn’t likely to substantially lessen competition in any market.
Speaking with Ross Greenwood, Mr Sims says it’s “a much more dynamic market” now.
The deal will now go to shareholders.
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