Statement
on the ACCC decision on Foxtel
SYDNEY, June 21, 2002 Mr Fred Hilmer, Chief Executive Officer of John Fairfax Holdings Limited [ASX:FXJ] today issued the following statement on the decision by the Australian Competition and Consumer Commission (ACCC) on the proposed Foxtel-Optus agreements:
Fairfax welcomes the ACCC’s decision. We argued that the Foxtel-Optus deal as presented by the parties could not be approved under the law, and the ACCC has fully agreed with every significant concern we raised about the anti-competitive nature of the proposal.
We believe that the process conducted by the ACCC in its review of these proposals has been of great assistance, permitting all parties time to assess the complex issues and implications arising from the proposal. We hope the ACCC’s decision now signals the commencement of a new phase of serious engagement and good faith negotiations on the business and commercial issues involved, leading to a fully competitive pay television industry which will serve the long-term interests of the Australian public.
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Contact:
Bruce Wolpe, Corporate Affairs (02) 9282 3640
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