Regulators green light Foxtel investment in Ten

October 22, 2015 10:00

The media and competition regulators have both given the the green light to Foxtel’s investment in Network Ten, paving the way for the pay-TV operator to take a 15 per cent stake in the TV Network.

The Australian Competition and Consumer Commission (ACCC) along with the Australian Communications and Media Authority (ACMA) have both said they will not oppose the deal some four months after the deal was first announced.

Opponents to the tie up had been concerned the alliance would give Nova and News Corp boss Lachlan Murdoch control of too many media assets and lead to Ten and Foxtel colluding to acquire things like sports rights.

“While the acquisitions will lead to a greater alignment of Foxtel’s and Ten’s interests, and will increase the degree of influence Foxtel has over Ten, the ACCC considers that the proposed acquisitions, on their own, are unlikely to result in a substantial lessening of competition,” said ACCC chairman Rod Sims.

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Nic Christensen

Nic Christensen worked for Mumbrella from 2013 to 2016, in roles including deputy editor and media & technology editor. He is former media writer for The Australian and has also worked as a reporter for The Daily Telegraph and senior producer for Radio 2GB.

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