Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Australian watchdog raises concerns over Pacific Magazines-Bauer deal

Published 19/12/2019, 10:03 am
© Reuters.  Australian watchdog raises concerns over Pacific Magazines-Bauer deal
PRT
-

Dec 19 (Reuters) - Australia's competition regulator on Thursday raised concerns about the proposed sale of Seven West Media Ltd's Pacific Magazines to Germany-based Bauer Media.

The Australian Competition and Consumer Commission (ACCC) said it was particularly concerned about the impact of the proposed acquisition on some key weekly magazine titles.

"Bauer's Woman's Day competes closely with New Idea, owned by Pacific Magazines, and Bauer's Take 5 magazine competes strongly with Pacific Magazines' That's Life," the ACCC said.

The regulator said its preliminary view was that if Bauer purchases Pacific "it would allow Bauer to reduce the effort put into content production and the range of content, or to increase prices".

While noting the dramatic revenue fall in the magazine market, the ACCC observed that competition within markets has an important role to play to protect consumers, even in declining markets.

The ACCC said it will not oppose Seven West Media's proposed acquisition of Prime Media Group PRT.AX , anticipating divestment of some radio networks by Seven.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.