ACCC announces clearance of the Foxtel and Fox Sports merger
The Australian Competition and Consumer Commission (ACCC) announced this morning that it ‘has decided not to oppose the proposed merger of Fox Sports and Foxtel after finding the transaction would not substantially lessen competition’.
In August 2017, Telstra and News Corp announced our intention to combine Foxtel and Fox Sports Australia into a new company, ‘one that is well positioned to deliver premium sports as well as home-grown, original and international entertainment’.
We today welcomed the ACCC’s decision to clear the combination of Foxtel and Fox Sports into a new company.
The transaction remains subject to the conclusion of definitive agreements and the satisfaction of certain other conditions.