The Commerce Commission has granted clearance for Infratil Outdoor Media Limited, the owner of iSite Limited, to acquire up to 100 per cent of the billboard assets of O.T.W. Advertising Limited.
Commerce Commission Chair Dr Mark Berry said the Commission is satisfied that the proposed acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in any of the relevant markets.
The Commission considered that there are regional markets for the supply of billboard services, although it focused its assessment on the main metropolitan markets of Auckland, Wellington and Christchurch where most billboards are located.
The Commission considers that competition from existing billboard providers, along with some constraint from other forms of advertising media is likely to prevent the merged entity from exercising any market power.
A public version of the written reasons for the decision will be available shortly on the Commission’s website at: www.comcom.govt.nz/clearances-register