Singo: “Doing business in Australia is f#!$ed”

Staff Writer

With Macquarie Radio Network expecting a 65% hit in net profit last week and the sun yet to set on the merger with Fairfax Radio Network, MMR Network boss John Singleton has come out taking a swipe at the “bureaucratic delay” on the ACCC signing off on the deal.

Talking to The Australian Singo said: “It has to go to lawyers, external meetings, shareholder meetings, ACCC. It takes about three months to do business in Australia if we’re lucky.

How can it take three-and-a half months for all these approvals? That’s business in Australia. There’s nothing to say except both boards have agreed and the rest is bureaucracy making work for people.

We know that both the Macquarie Radio Network and Fairfax Radio Network honchos have inked a deal to merge their respective groups with Singo also teliing The Australian: “delays of up to four months were a disgrace and doing business in Australia is f#!$ed”

The “bureaucratic delay” that Singo is passionate about, should see the ACCC come around mid-March with their verdict on the deal between the two networks. The next hurdle to jump will then be shareholder approval.

You can read more in The Australian.

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