Competition and Trade Practices (Anti-trust)

Macquarie Media Group – Acquisition of Southern Cross Broadcasting: Clayton Utz Competition team handled the successful ACCC clearance of the first major cross media acquisition involving radio and television markets, since the Federal Government's cross media reforms. The transaction (by scheme of arrangement) included the subsequent sale to Fairfax Media of various SCB assets.

The transaction was highly complex because of the need for a number of divestments to be negotiated by undertakings to the ACCC. The Clayton Utz team successfully advised on and negotiated these undertakings which represent the most recent application of the ACCC's complex requirements for divestiture undertakings, as discussed in its recent 2008 new draft Merger Guidelines. This transaction was therefore groundbreaking in terms of illustrating the way in which to meet the ACCC's increasingly exacting requirements for divestiture undertakings under a tight timetable.

Other divestiture undertakings were also required in this matter by the Australian Communications and Media Authority.

PMP Limited – Acquisition of The Times Printing: Clayton Utz acted for PMP Limited on its successful acquisition of The Times, a Melbourne-based competitor the heat set web offset printing industry owned by the Times Group of Singapore and successfully negotiated the ACCC clearance.

This was Clayton Utz's first role for PMP which has faced other ACCC objections in the past on other transactions and illustrated the Clayton Utz team's innovative approach to securing clearance for an important transaction for the client.