BT Triple Crown Merger Co, Inc and Clear Channel Communications Inc (104/LM/Sep07) [2008] ZACT 1 (14 January 2008)

BT Triple Crown Merger Co, Inc and Clear Channel Communications Inc (104/LM/Sep07) [2008] ZACT 1 (14 January 2008)

The Tribunal found that the proposed transaction does not result in any horizontal overlap between the merging parties in South Africa. Bain and Thomas H Lee, through their respective interests, do not compete with Clear Channel, whose primary business is renting advertising space on outdoor billboards. The transaction is a private equity investment and will not alter the competitive dynamics in any relevant market. Furthermore, there are no public interest issues arising from the merger. Accordingly, the Tribunal approved the transaction without conditions.

Citation
[2008] ZACT 1
Parties
Applicant: BT Triple Crown Merger Co, Inc; Respondent: Clear Channel Communications Inc
Court
Competition Tribunal
Jurisdiction
South Africa
Judgment Date
14 January 2008
Case Number
104/LM/Sep07
Procedural Posture
Merger Control / Merger Approval
Outcome
Merger approved unconditionally.
Judges
D Lewis, M Manoim, Y Carrim
Legal Topics
Merger Control, Public Interest, Horizontal Overlap, Market Power
Competition Law Commercial and Corporate Merger Control Public Interest Horizontal Overlap Market Power

Case Brief

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Parties

BT Triple Crown Merger Co, Inc

Applicant

Clear Channel Communications Inc

Respondent

Procedural Posture

Merger Control / Merger Approval

Legal Issues

  1. 1 Does the proposed merger between BT Triple Crown Merger Co, Inc and Clear Channel Communications Inc substantially prevent or lessen competition in any market?
  2. 2 Are there any public interest concerns arising from the transaction?

Ratio Decidendi

The Tribunal found that the proposed transaction does not result in any horizontal overlap between the merging parties in South Africa. Bain and Thomas H Lee, through their respective interests, do not compete with Clear Channel, whose primary business is renting advertising space on outdoor billboards. The transaction is a private equity investment and will not alter the competitive dynamics in any relevant market. Furthermore, there are no public interest issues arising from the merger. Accordingly, the Tribunal approved the transaction without conditions.

Court Disposition

Merger approved unconditionally.

Orders

  • The merger between BT Triple Crown Merger Co, Inc and Clear Channel Communications Inc is approved without conditions.