The
Macquarie Media Group’s $1.35 billion takeover bid for Southern Cross
Broadcasting and nine regional stations owned by Fairfax has been given
the go-ahead by the Australian Competition and Consumer Commission,
subject to a number of undertakings.
Any further movement will have to wait until the vote on the
takeover offer by Southern Cross shareholders tomorrow. The bid is
supported by the Southern Cross board and key shareholders.
The approval by the ACCC was expected.
Nevertheless, Fairfax Media in particular has been hamstrung by its
inability to move with any certainty on major changes required at
Southern Cross’s metropolitan radio stations.








