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Tech & Science Bauer Media and Pacific Magazines merger gets ACCC green light

14:35  01 april  2020
14:35  01 april  2020 Source:   theage.com.au

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Bauer Media , publisher of Australian Women's Weekly and Woman's Day, will go ahead with its takeover of Seven West Media 's Pacific Magazines Bauer chief Brendon Hill will lead the newly combined business. Credit:Jacky Ghossien. ACCC chair Rod Sims conceded that while there was

SummaryBauer Media Pty Limited proposes to acquire the business assets of Pacific Magazines Pty Ltd. Bauer Media and Pacific Magazines are both publishers of content in magazines (print and digital editions) and digital (websites). Market definitionThe ACCC considered the impact of the

Australian Competition and Consumer Commission (ACCC) Chairman Rod Sims speaks to the media in Sydney, Thursday, February 13, 2020. A $15 billion merger between Vodafone Australia and TPG has been given the green light, but the consumer watchdog says it will cause mobile data prices to rise © AAP Image/Joel Carrett Australian Competition and Consumer Commission (ACCC) Chairman Rod Sims speaks to the media in Sydney, Thursday, February 13, 2020. A $15 billion merger between Vodafone Australia and TPG has been given the green light, but the consumer watchdog says it will cause mobile data prices to rise

Australia's competition regulator will not oppose the $40 million mergers between Australian Women's Weekly publisher Bauer Media and New Idea's owner Pacific Magazines.

The Australian Competition and Consumer Commission decided that magazine closures were inevitable regardless of the deal and that the transaction would not substantially lessen competition.

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It may have been given the green light , but the Bauer Media and Pacific Magazines merger has Australian Women's Weekly and Woman's Day publisher Bauer Media may look to restructure its The Australian Competition and Consumer Commission last week approved Bauer 's purchase of

Seven West Media offloads Pacific Magazines to Bauer for m. Skip to sections navigation Skip to content Skip to footer. Mr Warburton announced plans to merge with regional TV affiliate Prime Media on Friday, and a simultaneous agreement to sell a small radio holding to Southern Cross

ACCC chair Rod Sims conceded that there was "notable" competition between the titles of the German-owned publisher and Seven West Media's magazine arm, but that deal was important for the industry.

"The significant declines in the circulation and revenue experienced by many magazines are sustained, substantial and likely to continue, resulting in less investment in content and fewer retail promotions," Mr Sims said.

"We note that some magazine titles have already closed, and others are likely to follow, regardless of this deal.

"Ultimately, we determined that although there is a notable level of competition between the particular print titles, the transaction was not likely to substantially lessen competition because publishers in other media, particularly online publishers, will increasingly compete with Bauer."

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The merger of Australia’s two big publishing houses, Pacific and Bauer Media , won’t create a monopoly in the industry, says Bauer CEO Brendon Hill. The sale, which is still subject to Australian Competition and Consumer Commission ( ACCC ) approval, is set to be completed by the close of

Bauer Media and Pacific Magazines merger gets ACCC green light . by Zoe Samios. Got a news tip? Share information with our journalists securely and confidentially.

Another factor, the ACCC said, is that consumers see online content as an alternative and that this would prevent Bauer Media from raising the price of its products or reducing investment in content.

Magazines such as Australian Women's Weekly, Woman's Day and Take 5, and New Idea and That's Life will be brought under the one roof as part of the deal.

Bauer Media's local business is formed by what was once ACP Magazines, which it bought from Nine Entertainment for $525 million in 2012. Nine is the owner of this masthead.

The ACCC's decision is important to Seven West Media, which is under significant financial pressure as it tries to reduce a $541 million debt pile.

The sale of Pacific Magazines was the first major move made under Seven's new chief executive James Warburton.

Mr Warburton later revealed plans to acquire Prime Media Group, however that deal was rejected by shareholders including Antony Catalano and Bruce Gordon.

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We’re looking at a proposed merger between two magazine publishers ( Bauer Media and Pacific Magazines ) and we’re keen to You’ll get information about your broadband speed and performance, while making a valuable contribution to improving the information that’s available to Australians to

Mr Warburton has now achieved two of his three proposed deals - the merger of Bauer Media and Pacific and the sale of West Australian radio business RedWave to Southern Cross Austereo.

Seven chief executive James Warburton said the company will receive $6.6 million worth of advertising from Bauer over the next three years as part of the sale.

"Pacific Magazines has always been an important part of Seven West Media and will leave a lasting legacy, and I want to personally thank the hard-working and dedicated team who have worked tirelessly to transform the business in response to changing market conditions," Mr Warburton said.

"These efforts mean that Pacific's assets will have a bright future as part of a larger group with Bauer, and SWM will maintain a relationship through the successful television show Better Homes and Gardens."

Bauer Media and Pacific Magazines have already pushed on with post-merger plans, which were in place to proceed following the ACCC's initial decision date on December 19.

The deal was delayed after the ACCC raised a statement of issues about the tie-up of direct rivals.

Executives at Pacific Magazines, including Louisa Hatfield, Nicole Bence, Will Everitt and Lucy Chesterton, were informed last year they would not be a transition to Bauer Media, and Pacific Magazines chief executive Gereurd Roberts was appointed Seven's new chief digital officer at the end of last year.

The deal is expected to be completed by April 9.

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