The Australian Competition and Consumer Commission (ACCC) announced that it would not oppose the proposed acquisition by News Corporation (News Corp) of 100% of the shares in Consolidated Media Holdings Limited (CMH). The bid has also been backed by billionaire James Packer, who owns 50% of Consolidated. As per the terms of the deal, News Corp will get a 50% stake in pay-TV network Foxtel and full ownership of the Fox Sports business in Australia. It will also get broadcast rights to the most … [Read more...] about Australia’s competition regulator approves News Corp’s acquisition of Consolidated Media