Australia's competition regulator is likely to approve News Corp.'s (NWS.AU) 1.97 billion Australian dollar (US$2.07 billion) bid for media investment company Consolidated Media Holdings Ltd. (CMJ.AU), The Australian Financial Review reported Wednesday, citing unnamed sources.

The newspaper said the takeover bid would be approved given the deal wouldn't substantially alter Australia's pay television industry dynamics.

The Australian Competition & Consumer Commission is due to release its review of the proposed deal Thursday.

A spokeswoman for the ACCC wasn't immediately available to comment.

News Corp. owns Dow Jones Newswires and The Wall Street Journal.

 
Newspaper website: http://www.afr.com

Write to djnews.sydney@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

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