Fairfax Media Limited - proposed acquisition of certain assets of Southern Cross Broadcasting (Australia) Ltd

Acquirer(s)

  • Fairfax Media Limited

Target(s)

  • Southern Cross Broadcasting (Australia) Ltd

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.

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.

Timeline

DateEvent
03/07/2007ACCC awaits information from Fairfax before commencing its informal review.
06/08/2007ACCC commenced review under the Merger Review Process Guidelines.
20/08/2007Closing date for submissions from interested parties.
13/09/2007ACCC announced decision to not oppose the proposed acquisition.