Three media companies may merge: Tribunal

The Competition Tribunal approved a merger between three major media companies

The Competition Tribunal unconditionally approved a merger between three major media companies in South Africa today.

They are Naspers, Electronic Media Network, and Supersport International Holdings. The Tribunal said it would give reasons for approving the merger at a later stage.

Caxton, a printing and publishing company, opposed the merger and took the issue up with the Competition Commission. It argued the merger was likely to substantially prevent or lessen competition.

At the end of May, the Competition Commission referred the matter to the Competition Tribunal and recommended that it approve the merger without conditions.

The merger between the three companies will result in Naspers acquiring all of the issued share capital in M-Net and SuperSport. - Sapa