An investigation into News Corp’s acquisition of APN’s regional newspaper arm has been launched by the Australian Consumer and Competition Commission with questions raised over monopoly.
News Corp acquired the Australia Regional Media division last week for $36.6m, however the finalisation of the deal remains subject to ACCC approval. If the deal is approved, News Corp will effectively own almost all of Queensland’s printed newspapers; with the exception of one Fairfax-owned title.
“On 21 June 2016 APN News & Media Limited announced it had entered into an agreement to divest its Australian Regional Media division (ARM) to News Corp Ltd,” states the consumer watchdog.
“The ACCC will commence a public review once it has received a submission and the transaction details from the parties.”
News Corp’s proposed acquisition will allow the media conglomerate to procure ARM’s 12 daily and 60 non-daily mastheads.
The sale will also signal APN’s complete exit from printed publishing as the group focuses efforts on its digital and outdoor assets.
Full Content: Mumbrella
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI