The consumer watchdog will not oppose Fairfax Media's proposed $50 million acquisition of All Homes, after finding the tie-up was unlikely to hinder competition.
The Australian Competition and Consumer Commission concluded the proposed purchase was unlikely to substantially lessen competition in markets for online or print real estate advertising in the Australian Capital Territory.
Fairfax and All Homes both operate online residential listings businesses in Australia through their websites domain.com.au and allhomes.com.au respectively.
Fairfax also owns the only local daily newspaper in the ACT, The Canberra Times.
"Market inquiries indicated that aggregating Fairfax’s print and online assets with All Homes was unlikely to change the current competitive dynamics," ACCC Commissioner Jill Walker said.
"This is due to the dominant position of All Homes in the ACT and the decrease in circulation of The Canberra Times," Dr Walker said.
At the time of the acquisition, Fairfax chief executive Greg Hywood said Canberra was a strategically important market for Fairfax and the buy would reinforce its digital position in the ACT.