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Hoyts, Greater Union and Village ('the Acquiring Exhibitors') propose to acquire Val Morgan and its associated entities.
The Commission conducted market enquiries and examined submissions from the parties and considered that it appeared that the proposed acquisition would have led to a substantial lessening of competition in the markets for cinema advertising and cinema exhibition in Australia, The main reason for the Commission's concern was that the acquisition would further vertically integrate the Acquiring Exhibitors, giving them effective control over an important revenue source for all cinema exhibitors.
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