By Jeremy Sollars
THE Australian Competition and Consumer Commission (ACCC) has delayed the announcement of its findings into the sale to News Corp of APN News and Media’s regional newspaper operation Australian Regional Media (ARM), which publishes the Warwick Daily News, the Stanthorpe Border Post and the Toowoomba Chronicle.
The ACCC was scheduled to announce its findings into the proposed sale on Thursday 29 September, but has advised it requires more time “to consider the proposed acquisition”.
It has now pushed the announcement of its findings back to next Thursday, 6 October. The outcome will either be an approval of the sale or the release of a Statement of Issues.
APN shareholders on Friday 16 September voted to approve the sale of ARM to Rupert Murdoch’s News Corp for $36.6 million, with 99.94 per cent approval.
Along with the Warwick Daily News and the Toowoomba Chronicle, ARM publishes 10 other regional daily newspapers and 60 community titles across Queensland and northern New South Wales.
