Original article by Dominic White
The Australian Financial Review – Page: 1 & 29 : 27-Jul-15
The Australian Competition & Consumer Commission (ACCC) will consider Foxtel’s equity alliance with the Ten Network in the context of the Murdoch family’s broader media holding, according to chairman Rod Sims. Foxtel proposes to acquire a 15 per cent stake in Ten, but the ACCC will take into account the fact that News Corp has a 50 per cent stake in Foxtel and News Corp executive Lachlan Murdoch has an 8.5 per cent stake in Ten. The effect on competition in bidding for sports broadcasting rights is likely to be a key consideration for the ACCC.
CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, ILLYRIA PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, MULTI CHANNEL NETWORK PTY LTD, NOVA ENTERTAINMENT PTY LTD, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, FOX SPORTS AUSTRALIA PTY LTD, CONSOLIDATED MEDIA HOLDINGS LIMITED, NINE NETWORK AUSTRALIA LIMITED, NETFLIX INCORPORATED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, SEVEN WEST MEDIA LIMITED – ASX SWM, PRESTO ENTERTAINMENT PTY LTD, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY