Ten Set To Flow To Murdoch
The scene has been set for a Murdoch takeover of Sydney’s Channel 10, after the Australian Competition and Consumer Commission gave an all-clear to the purchase by Lachlan Murdoch, Rupert’s son, and close associate Bruce Gordon.
But Murdoch and Gordon must wait for the Turnbull Government to pass new media ownership laws – and so far the Government has been unable to muster sufficient votes to make the change.
“The ACCC considers that this deal is unlikely to result in a substantial lessening of competition in any relevant market,” ACCC chairman Rod Sims said yesterday.
“While this transaction will result in some reduction in diversity across the Australian media landscape, we have concluded it would not substantially lessen competition,” Sims added.
Ten is currently in administration and has been up for sale by receivers PPB Advisory.
Lachlan Murdoch is co-chair of News Corp, which owns substantial newspaper assets in Australia, and also owns radio station Nova.
Gordon owns NSW regional broadcaster WIN.