From para 1 of the ACCC's Public Competition Assessment

On 11 October 2012, the Australian Competition and Consumer Commission (ACCC) announced its decision to oppose the proposed acquisition of 74.7% of the shares in Consolidated Media Holdings Limited (CMH) by Seven Group Holdings Limited ( Seven ) ( the proposed acquisition ). The ACCC formed the view that the proposed acquisition would have or be likely to have the effect of substantial y lessening competition in the market for the supply of free to air television services in Australia, in contravention of section 50 of the Competition and Consumer Act 2010 (the Act).