ACCC gives Fairfax green light

Company News

Fairfax Media Limited (ASX:FXJ) says it has received notification that the ACCC will not oppose its proposed merger with Macquarie Radio Network Limited (ASX:MRN).
 
Under the proposed deal MRN will own the licences on 2UE, 2GB and 2CH with plans to divest 2CH following the completion of the transaction.
 
The ACCC determined the combined entity would still face strong competition from other commercial radio stations. 
 
Fairfax Media Limited (ASX:FXJ) reported a net profit of $26.7 million for the half year to 28 December 2014.