ACCC Investigates News Corp’s Proposed Acquisition Of Racenet

ACCC Investigates News Corp’s Proposed Acquisition Of Racenet

The Australian Competition and Consumer Commission (ACCC) has launched an informal review into News Corp’s plan to buy horse racing news site Racenet.

Launched more than 20 years ago by Craig “Clocker” Tompson and Glenn “Robbo” Robbins, Racenet is a digital platform which provides racing news, form guides and tipping to consumers via its website and mobile app.

Racenet also provides betting affiliate services to corporate bookmakers, including referring new customers.

News Corp already owns a rival of Racenet called Punters.com.au, and is trying to acquire it through subsidiary bsuiness Punters Paradise.

The ACCC commenced its review of the proposed deal on Friday, with the impact of competition its primary focus.

In particular, the competition watchdog is seeking views from interested parties on “the extent to which other betting affiliate services would constrain a combined Punters/Racenet”, and “the likelihood of new entry or expansion by other betting affiliates”.

The ACCC is also examining “the effect of the loss of an independent alternative source of racing news and information to consumers”.

Interested parties have until 19 October to submit their feedback on the proposed acquisition, with the ACCC pencilling in 29 November as the date it will hand down its decision.




Latest News

Beacon Lighting Extends Carat’s Contract For Three More Years
  • Media

Beacon Lighting Extends Carat’s Contract For Three More Years

Dentsu’s media agency Carat Victoria has extended its six-year relationship with Beacon Lighting for another three years in a closed review. The agency, which is responsible for all paid media strategy, planning and buying including brand, performance and programmatic, first won the Beacon Lighting account in 2018. In 2021, it extended the contract for a […]

Former EssenceMediacom CEO Pat Crowley Calls On Adland To Back Rare Cancer Drug
  • Advertising

Former EssenceMediacom CEO Pat Crowley Calls On Adland To Back Rare Cancer Drug

Pat Crowley, former CEO of EssenceMediacom has called on adland to get behind a petition to add cancer drug Belzutifan to the Pharmaceutical Benefits Scheme, in the hopes it could save his son’s life. Last year, Crowley had a spate of terrible luck. In September, his 17-year-old son Fletcher suffered a severe spinal cord injury […]

University Of Sydney Appoints CHEP For Australia & APAC Media Accoutnt
  • Advertising

University Of Sydney Appoints CHEP For Australia & APAC Media Accoutnt

The University of Sydney has appointed CHEP Media to provide media planning and buying services for Australia and key markets across the Asia-Pacific region, following a competitive pitch. CHEP Media will support one of the world’s top 20 universities with an integrated, whole-of-university media strategy, to further elevate its brand profile and driving recruitment for […]

The Case For Nature: Let The Media & Advertising Industries Tell A Story & Tell It Well
  • Advertising

The Case For Nature: Let The Media & Advertising Industries Tell A Story & Tell It Well

Last year, Siddarth Shrikanth published The Case for Nature: Pioneering Solutions for the Other Planetary Crisis. Catherine de Clare caught up with him at the Jaipur Literary Festival in India this year. Shrikanth currently works as a director on the Investment team at Just Climate, a sustainability-focused investment fund chaired by former US vice president Al […]