ACCC approves Nine-Fairfax merger
The Australian Competition and Consumer Commission (ACCC) has given the thumbs up to a proposed merger of Nine and Fairfax.
The outcome of “not opposed” was published on the ACCC website, with the review reportedly taking 59 days.
The merger has implications for radio, with Fairfax being a majority shareholder of Macquarie Media.
Macquarie Media’s radio network, including stations 2GB, 3AW and 6PR, as well as the newly rebranded Macquarie Sports Radio, are now set to join a portfolio comprising Nine’s television network as well as a suite of large-scale brands in digital and publishing.
The ACCC review focussed on four key areas:
- The creation and provision of news (including current affairs and investigative journalism) in the Newcastle/Hunter region of New South Wales
- The creation and provision of non-news content (e.g. sports, lifestyle and entertainment)
- Supply of advertising opportunities to advertisers
- Acquisition of media content from content providers
The merger agreement was originally announced in July, in a deal worth an estimated $4 billion.
The merger sees the formation of a merged entity, which will become Australia’s largest integrated media player.
Under the merger, Nine shareholders will own 51.1% of the combined entity, with Fairfax shareholders holding the remaining 48.9%.