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Has anyone else noticed that the NRL-biased Daily Telegraph has finally dropped its insistence for calling our code 'soccer' and now calls it football?
Most people probably don't care, but I certainly prefer it be called football.
What I want to know is how it was you found out? Browsing at the Newsagent or wrapping paper at the greengrocer I hope. ;-]
http://www.melbournevictory.net/forum/showthread.php?55853-FFA-s-Next-TV-Deal-Fox-Sports-or-ONE-HD/page62
All clear for News bid for ConsMedia
NEWS Limited's takeover of pay television group Consolidated Media is set to succeed following an ACCC decision today to oppose any rival bid by the Seven Group.
The Australian Competition and Consumer Commission said today it would block any proposed acquisition bid by Kerry Stokes's Seven Group for the 75 per cent of Consolidated Media it does not own.
The ACCC decision removes the last obstacle to News Limited’s planned $2 billion acquisition of the James Packer controlled pay-television holding company.
Seven confirmed it would vote in favour of the News bid in a statement to the Australian Securities Exchange this morning.
“Seven Group Holdings Limited acknowledges the ACCC's decision announced today in relation to Consolidated Media Holdings Limited and intends to vote in favour of the Scheme Resolution to give effect to the News Limited proposal, as recommended by the directors of CMH.”
ConsMedia's directors have already recommended News' $1.94 billion takeover offer and will ask shareholders to vote on the $3.45-a-share offer on October 31.
If it is accepted, it would give News a 50 per cent stake in Foxtel and full ownership of pay-TV sports provider Fox Sports. News currently owns 25 per cent of Foxtel and 50 per cent of Fox Sports.
"I welcome Seven's decision today to support the scheme,’’ Mr Packer told The Australian today.
‘’While formalising shareholder support for the scheme at the upcoming extraordinary general meeting will mark the end of my family’s involvement in the Australian media industry, I am very proud and happy to remain friends with Kerry Stokes, Kim Williams, David Gyngell and Lachlan Murdoch."
Seven was negotiating with the ACCC in an effort to remove competition concerns about a possible bid for the company.
The ACCC had flagged concerns the acquisition would give Seven undue influence over Fox Sports and Foxtel in future sporting rights negotiations.
Seven Group, which also owns 33 per cent of the Seven West Media Group (which owns the Seven Network), also owns 25.3 per cent of ConsMedia.
Nine had expressed concerns that allowing Seven Group to move to full ownership of ConsMedia, which owns 50 per cent of Fox Sports and 25 per cent of Foxtel, would give Seven an advantage in sports rights bids, which often involve partnerships between the free-to-air networks and pay-TV players.
The ACCC said in its statement this morning that the proposed acquisition by Seven would have resulted in “a substantial lessening of competition in the market for free to air television services”.
“The ACCC is concerned that the proposed acquisition would put Seven Network in a position of advantage over other free to air networks in relation to joint bids and other commercial arrangements with Fox Sports for the acquisition of sports rights,” ACCC chairman Rod Sims said.
"Being able to come to such arrangements with Fox Sports would enhance Seven Network’s ability to acquire the rights to premium sports,” Mr Sims said.
“Access to premium sporting content is vital to the ability of free to air networks to compete strongly. The ACCC considers that the proposed acquisition would significantly reduce the ability of Seven Network’s competitors to acquire such content.”
The deal will make News Limited the dominant player in the pay-TV market with full ownership of Fox Sports, and 50 per cent ownership of Foxtel, as well as the ability to control management appointments. Telstra owns the other half of the pay-TV provider.
It also likely signals the end of Seven Group chairman Kerry Stokes’s ambitions in the pay-TV
What I want to know is how it was you found out? Browsing at the Newsagent or wrapping paper at the greengrocer I hope. ;-]