Fairfax Media Limited - proposed acquisition of certain assets of Southern Cross Broadcasting (Australia) Ltd
Type of assessment
Informal Review
Reference
28967
Acquirer(s)
Fairfax Media Limited
Target(s)
Southern Cross Broadcasting (Australia) Ltd
Industry
Media
Summary
Immediately following Macquarie Media Group's proposed acquisition of Southern Cross Broadcasting, Fairfax proposes to acquire from Macquarie, the following assets:
- Metropolitan radio stations - 3AW and Magic (Melbourne), 2UE (Sydney), 96FM and 6PR (Perth), 4BC and 4BH (Brisbane)
- Southern Star
- Satellite Music Australia.
Outcome of assessment
Not opposed
Total review days *
29
Commenced public review
6th August 2007
Date completed
13th September 2007
Market definition
Either separate or joint radio and newspaper advertising markets. As the ACCC considered that the proposed acquisition was unlikely to result in a substantial lessening of competition in any relevant market, it was not necessary to form a definitive view of market definition for the purposes of this acquisition.
Competition analysis
On any market definition, the ACCC considered that the proposed acquisition was unlikely to result in a substantial lessening of competition due to the presence of other radio and newspaper operators in all Sydney and Melbourne - the only regions where overlap would occur.
Review timeline
Date
Event
3rd July 2007
ACCC awaits information from Fairfax before commencing its informal review.
6th August 2007
ACCC commenced review under the Merger Review Process Guidelines.
20th August 2007
Closing date for submissions from interested parties.
13th September 2007
ACCC announced decision to not oppose the proposed acquisition.
* Total Review days = Total business days less public holidays and time during which the review was suspended.
