Posted 19 December 2019 in Announcement
Sydney, 19 December, 2019: Bauer Media Group is disappointed that the Australian Competition and Consumer Commission (ACCC) has today indicated that it has preliminary concerns with the proposed acquisition of Seven West Media’s Pacific Magazines portfolio.
Adrian Goss, Bauer Media General Counsel says: “In view of the ACCC’s own findings in its recent Digital Platforms Inquiry, we are surprised that it has not cleared the acquisition at this stage. While we are confident of receiving clearance in the New Year, the ongoing uncertainty is enormously challenging for Pacific Magazines’ staff and the business more generally. Bauer Media has always seen the acquisition as a positive step towards ensuring the sustainability of print magazine publishing in Australia.”
Bauer Media will continue to cooperate with the ACCC in addressing the matters raised in its statement of issues and expects the acquisition to be cleared in early 2020.