Bruce Gordon and Lachlan Murdoch have approached the Australian Competition and Consumer Commission (ACCC) to review a potential bid for the network Ten, which recently entered voluntary administration and receivership.
The move is a normal procedure ahead of an M&A bid in markets where concentration is a concern.
In a statement, the competition watchdog confirmed it would evaluate the billionaire’s bid for joint of control of Australia’s third network.
The ACCC also released an indicative timeline of events for the review, listing July 24 as the closing date for submissions from interested parties and August 24 as the provisional date for announcement of ACCC’s decision.
Full Content: Adelaide’s independent news
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