The Commerce Commission has cleared Sky Network Television Limited to acquire the television broadcasting business of Prime Television New Zealand Limited.
The Commerce Commission has cleared Sky Network Television Limited to acquire the television broadcasting business of Prime Television New Zealand Limited.
Commission Chair Paula Rebstock said that the Commission was satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition in any of the relevant markets.
As is its standard practice, the Commission would not be commenting further on the decision at this time, Ms Rebstock said. A public version of the written decision will be available on the Commission's website as soon as practicable.
Sky is a publicly-listed company on both the New Zealand and Australian stock exchanges and has been broadcasting pay television services in New Zealand since 1990. Sky broadcasts on both a digital satellite format and an analogue UHF format, and currently has approximately 600,000 subscribers. Prime is owned by the Australian-based Prime Television Limited. Prime has been broadcasting free-to-air television services in New Zealand since 1998.
