Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

ComCom right to reject media merger, court hears

ComCom right to reject media merger, court hears

By Sophie Boot

Oct. 20 (BusinessDesk) - In the fifth day of the media merger appeal, the Commerce Commission's lawyers have begun their arguments against overturning the regulator's rejection of the country's two largest print media companies joining together.

The court has already heard from the joint legal representatives of Stuff and NZME, on their primary appeal - whether the regulator was right to reject the merger proposal - and the secondary appeal, on the process it took.

This morning, James Farmer QC, lawyer for the Commerce Commission, said the public interest test was much broader than had been characterised by the media companies' lawyer. He said the decision by the Commerce Commission to reject the merger had been firm and wasn't "a case where the commission just wasn't sure".

Farmer said that allowing the merger would be to remove external competition faced by the media companies, which was what the commission is tasked with considering under the Commerce Act.

"If you're concerned about whether the merger will see a substantial lessening of competition it's market structure you look at," Farmer said. "You don't just rest content and say this firm has got a history of behaving responsibly and we can be content with that. What's important is the external constraint that our law says the Commerce Commission has to have regard to when it considers merger proposals."

Farmer continues this afternoon, with the case set to continue into next week.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Serious Fraud Office: Commences Enquiries Into Allegations Of COVID-19 Wage Subsidy Fraud
The Serious Fraud Office has commenced a number of enquiries into alleged abuse of the Government’s COVID-19 Wage Subsidy. Director Julie Read said the allegations relate to multiple complex cases of potential fraud that have been referred to the agency following extensive investigations ... More>>



Environment: Preliminary Environmental Data On New Zealand’s Air Quality Released Today

The Ministry for the Environment and Stats NZ have published the Our air 2021: preliminary data release today. We are currently working to revise the Our air 2021 report to incorporate analysis of the World Health Organization (WHO) 2021 air quality guidelines that were released on 23 September 2021... More>>


Statistics: Food Prices Rise For Sixth Consecutive Month
Food prices rose 0.5 percent in September 2021 compared with August 2021, mainly influenced by higher prices for grocery food and meat, poultry, and fish, Stats NZ said today. September’s movement is the sixth consecutive monthly rise. After adjusting for seasonality, prices rose 0.9 percent... More>>



Reserve Bank: Robust Balance Sheets Yield Faster Economic Recovery

Stronger balance sheets for households, businesses, financial institutions and the government going into the pandemic contributed towards maintaining a sound financial system and yielding a faster economic recovery than following previous deep recessions... More>>


Transpower: Releases Independent Report Into Events Of August 9
Transpower’s Chief Executive Alison Andrew has today released an independent report into the grid emergency of August 9 when insufficient generation was available to meet demand, leading to some customers being disconnected... More>>

Bayleys: Latest Lockdown Adds Further Fuel To Industrial Property Market

The recent construction shutdown resulting from Auckland’s Covid 19’s lockdown restrictions has put additional pressure on an industrial property market that is already struggling to keep pace with demand... More>>