Australia’s competition watchdog has cleared the way for Fairfax’s takeover of Canberra online real estate business All Homes.
The Australian Competition and Consumer Commission said the takeover is unlikely to harm competition in the ACT due to the relative weakness of Fairfax’s own Domain business in the territory and the declining circulation of the Canberra Times.
“The ACCC concluded that the proposed acquisition was not likely to substantially lessen competition in markets for online or print real estate advertising in the ACT,” ACCC commissioner Dr Jill Walker said.
“This is due to the dominant position of All Homes in the ACT and the decrease in circulation of the Canberra Times.”
Fairfax reached an agreement to buy All Homes for $50 million in July.