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Canada: Postmedia purchase of Sun Media OK’d by Competition Bureau

By  |  March 25, 2015

Canada’s competition watchdog has given the all-clear to Postmedia’s purchase of 175 Sun Media newspapers for $316 million.

In a decision posted on the Competition Bureau’s website Wednesday morning, the regulator says that after a five-month investigation that began when Postmedia announced the deal last October, it has no opposition to the takeover, because “the proposed transaction is unlikely to substantially lessen or prevent competition.”

The move was the final hurdle in the takeover becoming official, which means the deal can now close in the next few weeks.

The bureau cited a lack of a close rivalry between Postmedia’s broadsheet newspapers and Sun Media’s tabloid newspapers in its decision.

 

Full Content: Reuters

 

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