Australia

ACCC gives Nine, Fairfax merger the tick

The Australian Competition and Consumer Commission says it won't oppose the merger of media giants Fairfax and Nine.

THE ACCC VERDICT ON THE FAIRFAX-NINE MERGER

* It's not opposed to the merger.

* While itr will "likely reduce" competition in the Australian news content market, it's "not likely to substantially lessen competition in any market in breach of the Competition and Consumer Act".

* After the merger, Nine-Fairfax, News-Sky, Seven West Media, ABC, SBS and Australian Associated Press will be the key local employers of news journalists in Australia.

* The ACCC says "competition constraint" is being provided by other outlets such as The Guardian, The New Daily, Buzzfeed, Crikey and The Daily Mail.

* Nine's TV operations and Fairfax's main media assets generally do not compete closely with each other, apart from the online news sector.

* Concerns were raised about the combining of newsrooms in the NSW Hunter/Newcastle region but the ACCC found Fairfax and Nine do not compete sufficiently closely with each other there.

* In relation to advertising and non-news content, the ACCC found Nine and Fairfax do not currently compete strongly against each other and would continue to face a range of competitive constraints beyond the merger.

* Nine is an ASX-listed Australian media and entertainment company, with a free-to-air television business, digital publishing assets, on-demand video services (including a 50 per cent share in Stan) and TV content production and distribution.

* Fairfax is an ASX-listed company with a portfolio of news, marketplace and entertainment assets. including the Sydney Morning Herald, The Age, The Australian Financial Review and a range of other daily newspapers and websites.

* Fairfax also has a 59.4 per cent shareholding in Domain, a 54.5 per cent interest in radio broadcaster Macquarie Media, a 47 per cent shareholding in Australian Associated Press, and is a 50 per cent joint venture partner in Stan (with Nine).

Stay up to date with SBS NEWS

  • App
  • Subscribe
  • Follow
  • Listen
  • Watch