Western Australia's new media monster has arrived!
Seven West Media's proposal to purchase The Sunday Times and perthnow.com.au has been given the green light by the Australian Competition and Consumer Commission.
The statement released today said "Following an extensive review, the ACCC has reached the view that the proposed acquisition is, on balance, not likely to substantially lessen competition for either consumers or advertisers."
The Commission justified its decision saying "many consumers in WA are now getting their news online or elsewhere" and "most (advertisers) acknowledged that print advertising was of declining importance". The findings also mentioned Fairfax's WAtoday.com.au and the ABC's dedicated online website as alternative online news sites.
Read the full statement here.
I guess it is now a case of wait and see what shape the new enterprise will take. Will it be a creative, exciting and thought-provoking journalism platform? Or will it just be The West Australian published seven days a week?