CMJ Cons Media Fpo

   By Gavin Lower 
 

MELBOURNE--The Australian Competition and Consumer Commission said Thursday it won't oppose News Corp.'s (NWS.AU) 1.97 billion Australian dollar (US$2.06 billion) bid for media investment company Consolidated Media Holdings Ltd. (CMJ.AU).

Consolidated Media owns 25% of Australia's largest pay-television company Foxtel and 50% of sports channel Fox Sports. News Corp. also owns 25% of Foxtel and the other 50% of Fox Sports.

"The ACCC's view is that this acquisition is unlikely to lead to a substantial lessening of competition in any relevant market," ACCC chairman Rod Sims said in a statement.

Write to Gavin Lower at gavin.lower@wsj.com

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