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ACCC's Rod Sims

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News Ltd OK for Foxtel stake

2nd Aug 2012 4:00 PM

A NEWS Ltd Corporation takeover of Consolidated Media holdings, which will give the media company 50% of Foxtel, will be allowed, the competition watchdog said on Thursday.

Australian Competition and Consumer Commission chairman Rod Sims said the commission did not believe the takeover would lessen competition in Australian markets.

News Limited already owns half of FOX Sports Australia, but Mr Sims said the commission still needed to assess a proposed News takeover of the Seven Group's shares in CMH.

foxtel news ltd

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