ACCC Won't Oppose News Corp Bid for Consolidated Media
August 01 2012 - 8:00PM
Dow Jones News
By Gavin Lower
MELBOURNE--The Australian Competition and Consumer Commission
said Thursday it won't oppose News Corp.'s (NWS.AU) 1.97 billion
Australian dollar (US$2.06 billion) bid for media investment
company Consolidated Media Holdings Ltd. (CMJ.AU).
Consolidated Media owns 25% of Australia's largest
pay-television company Foxtel and 50% of sports channel Fox Sports.
News Corp. also owns 25% of Foxtel and the other 50% of Fox
Sports.
"The ACCC's view is that this acquisition is unlikely to lead to
a substantial lessening of competition in any relevant market,"
ACCC chairman Rod Sims said in a statement.
Write to Gavin Lower at gavin.lower@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
Consolidated Media Holdings (ASX:CMJ)
Historical Stock Chart
From May 2024 to Jun 2024
Consolidated Media Holdings (ASX:CMJ)
Historical Stock Chart
From Jun 2023 to Jun 2024