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News LTD Herald and Weekly Times



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eader of the Opposition

Pi^ lieo

STATEMENT' BY' BILL HAYDEN,. MP

NEWS LTD. - HERALD AND WEEKLY TIMES

The Trade Practices Commission has taken the only"proper course. . . . '

Further concentration .of the media in this country is '

firmly against the best interests of the community. '

1 applaud the Commission for acting swiftly. .

1 pointed out.to the Government during' Question' Time yesterday that the News· Ltd takeover offer should be examined in terms of Section 50 of the Trade Practices Act. . .

This section, although substantially watered down from the the Labor Government's original legislation, would ' appear to preclude the News Ltd bid. · . ■ ■ .

■ It prohibits a controlling interest .in a company if such . ' a takeover were to lead. to 'control or domination', of the ■ market or 'substantially strengthen' its power to do so. ■

The Trade Practices Commissioner clearly supports this view. . . . .

Mr Murdoch has no option but to accede to the . Commissioner's request to suspend his offer. .

In fact, he should now go further and withdraw it.

CANBERRA

November 21, 1979