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).