Foxtel - proposed acquisition arrangements with Ten Network Holdings Ltd

Acquirer(s)

  • Foxtel Management Pty Ltd

Target(s)

  • Ten Network Holdings Ltd

Summary

Foxtel proposed to acquire up to 15% of Ten while Ten proposed to acquire a 24.99% stake in Multi Channel Network (MCN, a supplier of advertising opportunities on subscription television channels). Ten also had an option to acquire 10% of Presto TV, a joint venture between Foxtel and Seven West Media.

Market definition

Please refer to the Public Competition Assessment.

Competition analysis

Please refer to the Public Competition Assessment.

Statement of issues

Document title Date

Public competition assessment

Timeline

DateEvent
25/06/2015ACCC commenced review under the Merger Process Guidelines.
24/07/2015Closing date for submissions from interested parties. ACCC assessing information provided during market inquiries and consulting with merger parties on any relevant issues or concerns arising.
09/09/2015Former proposed decision date of 10 September 2015 delayed by ACCC to allow additional time to consider the proposed acquisitions.
14/09/2015ACCC published a Statement of Issues outlining preliminary competition concerns.
28/09/2015Closing date for submissions relating to Statement of Issues.
22/10/2015ACCC announced it would not oppose the proposed acquisition.