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Seven West's Prime Media Australian acquisition gets regulatory nod, with conditions

( December 17, 2019, 23:51 GMT | Official Statement) -- MLex Summary: A merger between Australian media companies Seven West Media and regional broadcaster Prime Media Group has been given the green light by the country's competition regulator. In a statement released today, the Australian Competition & Consumer Commission said following an informal review of Seven West's acquisition of Prime, it would not oppose the deal, but noted recent media speculation that Prime's shareholders may vote against the deal at a meeting on Dec. 19. The regulator said it approved the deal under the condition that Seven West Media will divest its Spirit and RedFM radio networks in regional WA to a third party to meet broadcasting regulatory requirements. Full ACCC statement follows: ...

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