Lachlan Murdoch and Bruce Gordon lodge bid for Ten with competition watchdog

“While this transaction is dependent upon the passage of the media reform bill, it is appropriate that the ACCC begin its review of the proposed transaction that has been put to us by the parties,” ACCC chairman Rod Sims said.

Mr Murdoch cannot control Ten because it would breach the two-out-of-three rule. He currently controls radio and newspaper assets in markets where Ten is broadcast. Owning a commercial television network would give him control of three-out-of-three media. Scrapping this restriction is the most controversial of the government’s proposed changes.

Source: Lachlan Murdoch and Bruce Gordon lodge bid for Ten with competition watchdog