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Australia antitrust regulator clears Murdoch to buy Ten Network
August 23, 2017 / 11:28 PM / in 3 months

Australia antitrust regulator clears Murdoch to buy Ten Network

SYDNEY, Aug 24 (Reuters) - The Australian antitrust regulator said it would let a consortium led by News Corp co-chairman Lachlan Murdoch buy struggling free-to-air television broadcaster Ten Network Holdings Ltd, saying the proposed buyout would not harm competition.

“While this transaction will result in some reduction in diversity across the Australian media landscape, we have concluded it would not substantially lessen competition,” said Australian Competition and Consumer Commission Chairman Rod Sims in a statement on Thursday.

The Australian government has yet to pass a bill that would ease the country’s media ownership laws.

Reporting by Byron Kaye; Editing by Richard Pullin

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