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Oohmedia Announces Proposed Merger with APN Outdoor Group will not Proceed

19 May 2017  |  09:49:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Proposed Merger will not proceed

Oohmedia announced that the proposed merger with APN Outdoor Group (APO) has been terminated. The Australian Competition & Consumer Commission (ACCC) released a Statement of Issues outlining its preliminary view that the proposed merger would likely result in a substantial lessening of competition in the supply of out-of-home advertising services. APO and the Company disagree with the ACCC's views. Both parties maintain that the commercial reality is that out-of-home advertising competes extensively and directly with other media channels and as such a narrow market definition is inappropriate.

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