Decision on Ooh Media and and APN Outdoor merger delayed as ACCC seeks more information

The approval of the merger Ooh Media and APN Outdoor has been delayed as the Australian Competition and Consumer Commission seeks more information on the deal.

The decision, expected later this month, has been pushed back to May 4 with the ACCC saying it needed more information before it could finalise its decision.

In a statement to the ASX, Ooh Media said it did not think the extension would have an impact on the approval of the proposed merger which would create Australia’s largest out-of-home company.

“APO and OML remain confident in their position that the merger does not result in substantial lessening of competition in a rapidly changing media landscape,” the statement said.

“Both parties continue to believe strongly in the long term growth and value creation opportunities the merger would offer to a broad range of stakeholders including the benefits of the talented teams within both businesses.”

Two weeks ago APN Outdoor delivered a record result with revenue rising 10% to $330.9 million.

Just a week earlier Ooh had also delivered a strong result reporting a 20% boost in profit.

Ooh CEO Brendan Cook has talked up the potential of digital and the opportunities created by the merged outdoor companies.


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