ACCC to investigate MMG acquisition of Southern Cross
The Australian Competition and Consumer Commission will investigate Macquarie Media Group's proposed acquisition of Southern Cross Broadcasting, after ACMA last Friday announced it had approved the move.
ACCC chairman Graeme Samuel responded today and said: "While the ACMA's assessment of the proposal has concluded, the ACCC has a separate role in assessing the proposal for any impact on competition under the Trade Practices Act 1974.
"As the focus of the ACCC's assessment differs from the focus of the ACMA's review, the ACCC will conduct a separate assessment of the proposed acquisition, including extensive market inquiries.
"If the ACCC receives the information it has requested from Macquarie Media Group shortly, the ACCC will commence its review and expects to finalise its review by mid-September," Samuel said.
The ACCC is also assessing Fairfax's proposed acquisition of Southern Cross Broadcasting's metropolitan radio stations and of Macquarie Media Group's acquisition of several regional radio stations from Fairfax.
