Commission clears Val Morgan Holdings

Commission clears Val Morgan Holdings to acquire cinema advertising businesses

The Commerce Commission has approved an application from Val Morgan Holdings Pty Limited (VMH), to acquire the cinema advertising businesses of Val Morgan & Co (Aust) Pty Limited (Val Morgan) and Media Entertainment Group Limited (MEG).

Val Morgan and MEG both provide cinema advertising services in New Zealand.

VMH is a proposed entity to be jointly owned by The Hoyts Corporation Pty Limited, the Greater Union Organisation Pty Limited and Village Cinema Australia Pty Limited.

Chair John Belgrave said the Commission is satisfied that the proposed acquisition would not have, nor would be likely to have, the effect of substantially lessening competition in the film advertising or slide advertising markets.

The Commission’s written decision on the application will be available soon on the Commission’s website, http://www.comcom.govt.nz/adjudication.

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