Macquarie Media Holdings Limited - s.87B undertaking

The ACCC considered the proposal by Macquarie Media Group to acquire Southern Cross Broadcasting (Australia) Limited.

On 17 October 2007, the ACCC decided not to oppose the proposed acquisition, subject to the acceptance of section 87B undertakings from Macquarie Media Group.

These undertakings require that Macquarie Media Group divest seven radio licences in Tasmania. They are:

• 7LA AM in Launceston;
• Heart 558 AM in Burnie;
• Heart 900 AM in Devonport;
• 7XS and the FM apparatus licence in Queenstown; and
• Heart 540 AM and SEA FM in Scottsdale.

The undertaking requires that the divestiture assets be held separate, independently managed, maintained and operated as going concerns during the divestiture period.