The Australian Competition and Consumer Commission (ACCC) has green lighted the proposed merger with News Corp’s (ASX:NWS) owned, Fox Sports and Foxtel, which is owned 50/50 with Telstra (ASX:TLS).
The proposed merger with Foxtel and Fox Sports, will see News Corp hold 65 per cent of the entity and Telstra to hold 35 per cent.
The ACCC says the merged entity will also ink a number of deals with Telstra.
The competition watchdog had been reviewing the merger since 12 Oct 2017 and says the changed ownership structure ‘was unlikely to substantially lessen competition in the market’.
Shares in News Corp (ASX:NWS) are trading slightly lower, 0.05 per cent down at $21.85.