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green light to the acquisition of Network 10 group owned by Murdoch son

The Australian Consumer and Competition Commission (ACCC) gave a green light today to the acquisition of channel 10 by the Birteku and Illyria groups, owned by Lachlan Murdoch, son of Magnate Rupert Murdoch.

Australia's Consumption and Competition Commission (ACCC) today gave the green light to the acquisition of channel 10 by the Birteku and Illyria groups, Lachlan Murdoch, son of tycoon Rupert Murdoch.

The agency agreed not to oppose the operation, considering that it will not affect competition in the sector despite Recognize the growing concentration in the media market in the country.

"Although this transaction will reduce diversity in the Australian media landscape, we have Concluded that it will not significantly reduce competition, which is the test that ACCC does to evaluate acquisitions, "said ACCC President Rod Sims in a statement.

Birketu Pty Lt, owned by Bruce Gordon, and Illyria, proposed to each acquire 50 percent of the interests of Ten Network Holdings Limited (Ten), which in June stopped listing on the stock exchange and Has submitted a "voluntary administration" for insolvency.

Gordon already owns 15 percent of the channel's shares while Murdoch owns 7.5 per cent. Murdoch is co-chair of the News group and chief executive of 21st Century Fox, and has shares in News Corporation, 21st Century Fox, Fox Sport Australia, Foxtel, among others.

Others.

While both entrepreneurs are linked to various media outlets in Australia, the ACCC argued that these interests are located in geographic areas The ACCC noted that its decision was based on the analysis of the impact of the expansion of Murdoch's interests in the Australian media, where he already has a great influence In several newspapers, Foxtel pay television, as well as in radio and television production.

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