The Australian Competition and Consumer Commission today issued a statement on its current consideration of the proposed Australis Media/Foxtel merger.
ACCC Chairman, Professor Allan Fels, said today that the Commission considered that the original merger proposal was likely to breach section 50 of the Trade Practices Act as it would be likely to lead to a substantial lessening of competition.
"Subsequently the companies have developed proposals to try to overcome this. This has taken considerable time and effort by the companies. The ACCC has had to carefully consider the proposals.
"The proposals have practical difficulties and consequently the ACCC is not satisfied that they would overcome the ACCC's concerns.
"But Australis Media and Foxtel have now advised the ACCC that they will bring forward a further proposal, different from the earlier proposals.
"The ACCC naturally will evaluate the new proposal. No decision on the proposal can be made until it is received by the Commission. It is expected that the new proposal will be received next week."
ACCC Chairman, Professor Allan Fels, said today that the Commission considered that the original merger proposal was likely to breach section 50 of the Trade Practices Act as it would be likely to lead to a substantial lessening of competition.
"Subsequently the companies have developed proposals to try to overcome this. This has taken considerable time and effort by the companies. The ACCC has had to carefully consider the proposals.
"The proposals have practical difficulties and consequently the ACCC is not satisfied that they would overcome the ACCC's concerns.
"But Australis Media and Foxtel have now advised the ACCC that they will bring forward a further proposal, different from the earlier proposals.
"The ACCC naturally will evaluate the new proposal. No decision on the proposal can be made until it is received by the Commission. It is expected that the new proposal will be received next week."