BREAKING NEWS: ACCC To Investigate Foxtel & Fox Sports
Foxtel, News Corporation and Fox Sports are facing a major hurdle with the ACCC moving to launch an investigation into whether the merging of Fox Sports and Foxtel will create a monopoly.
The Australian Competition and Consumer Commission who kicked off the review has urged interested parties to make submissions by October 27.
What Niew Corporation weant to do is creat a single Foxtel and Fox Sports Australia enity in Australia that will be owned by News Corp, this some claim could lead to the cost of access rising significantly.
AAP claim that under the previously announced merger plans, which aim to be completed in the first half of 2018, News Corp will have 65 per cent and Telstra 35 per cent of the new company, which could be listed on the ASX.
Its investigation will look at the impact of the merger on competition, particularly the acquisition and supply of sports content and the supply of broadband and telecommunication services to consumers.
In announcing the proposed merger in August, News Corp chief executive Robert Thomson said the world of content was becoming “more complicated and competitive” and noted the importance of Australia having a “strong local platform” for its sports and homegrown shows.
The ACCC will announce its decision on December 7.