November 7, 2018 / 11:02 PM / 10 days ago

Nine-Fairfax deal gets nod from Australia's competition regulator

Nov 8 (Reuters) - Australia’s competition watchdog said it will not oppose Nine Entertainment Co Holding’s buyout of newspaper publisher Fairfax Media Ltd.

Australia’s Competition and Consumer Competition Chairman Rod Sims said that although the deal might reduce competition, it concluded that the acquisition would not “substantially lessen competition.”

The deal is expected to make Nine the biggest media company in the country. (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Sandra Maler)

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