The Australian Competition and Consumer Commission has issued a Statement of Issues on the possible acquisition by Seven Group Holdings of Consolidated Media Holdings.
In the Statement of Issues, the ACCC has expressed its preliminary competition concerns about the proposed acquisition, arising from its review to date.
The ACCC’s concerns arise in the free to air television market given the influence Channel Seven may be able to exert over FOX SPORTS Australia (which is 50% owned by Consolidated Media Holdings) in joint bids and other commercial arrangements in relation to sports rights.
The ACCC invites further submissions from the market in response to the Statement of Issues by 27 September 2012. As a result, the ACCC’s final decision will be deferred until 11 October 2012.