ACCC CLEARS THE WAY FOR BILLIONAIRE INVESTORS MURDOCH AND GORDON TO BUY TEN NETWORK
24 August 2017, Written by Ben Hall
THE COMPETITION watchdog has cleared a proposed takeover of the Ten Network by billionaire investors Lachlan Murdoch and Bruce Gordon, leaving the two media moguls as the likely owners of the struggling broadcaster.
Ten's 'low' ratings taken into account
The ACCC says it considered feedback from a wide range of market participants, including broadcasters, sports rights holders, independent content producers, and advertisers.
Competition will remain in the media landscape, ACCC says
"The ACCC is not oblivious to the fact that significant influence can be exerted through partial shareholdings and family connections, however the ACCC did take into consideration that this is a proposed 50 per cent acquisition by Illyria," Sims says.
Business News Australia
Author: Ben Hall