Different audiences: ACCC won’t oppose Nine-Fairfax deal

Original article by Max Mason
The Australian Financial Review – Page: 17 : 9-Nov-18

The Australian Competition & Consumer Commission advised on 8 November that it would not oppose the proposed merger between Nine Entertainment and Fairfax Media. Fairfax shareholders will now vote on the transaction on 19 November, while the Federal Court will then need to approve the deal. If both Fairfax shareholders and the Federal Court give the go-ahead for the merger, the combined entity, to be known as Nine, will begin on trading on 10 December. The ACCC cited the fact that Nine and Fairfax had mostly different content that targeted different audiences as the main reason for not opposing their merger.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, FEDERAL COURT OF AUSTRALIA, CGI GLASS LEWIS PTY LTD, OWNERSHIP MATTERS PTY LTD, ISS PROXY AUSTRALIA, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION

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