The ACMA gives prior approval for Seven West-Prime and Southern Cross transactions | radioinfo

The ACMA gives prior approval for Seven West-Prime and Southern Cross transactions

Wednesday 18 December, 2019

The ACMA has given prior approval for a transaction that will result in breaches of the media diversity rules, involving a proposed merger between Seven West Media Ltd (Seven) and Prime Media Group Ltd (Prime).
 
The transaction, if it proceeds, will result in breaches of media diversity laws in six regional areas in Western Australia.
 
The ACMA has accepted a court-enforceable undertaking from Seven that it will remedy the breaches in the areas affected within a specified period. The enforceable undertaking will involve the sale of Seven’s Redwave radio network.
 
The ACMA has also given prior approval for a transaction that will result in breaches of the media diversity and two-to-a market radio rules. This transaction involves the purchase of the Redwave radio network in regional Western Australia by Southern Cross Media Group Ltd (Southern Cross) from Seven.
 
This purchase will also cause a breach of the limitation on directorships, as Southern Cross would be in a position to exercise control of more than two commercial radio broadcasting licences in Bunbury through its subsidiary Regional Broadcasters Australia Pty Limited.
 
To remedy these breaches, the ACMA has accepted a court-enforceable undertaking from Southern Cross to divest a commercial radio licence in Bunbury.

 
 
 

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