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
Date | Event |
---|---|
ACCC awaits information from Fairfax before commencing its informal review. |
|
ACCC commenced review under the Merger Review Process Guidelines. |
|
Closing date for submissions from interested parties. |
|
ACCC announced decision to not oppose the proposed acquisition. |