A case of perfect Packer planning

The timing of the ACCC's approval of News' takeover of ConsMedia and Packer's deal with Lend Lease for the Barangaroo development dovetail perfectly.

It is, presumably, a neat coincidence that News Corp should get an Australian Competition and Consumer Commission clearance for its proposed $1.97 billion bid for James Packer’s Consolidated Media at almost the same instant as Packer’s Crown Ltd signed an exclusive deal with Lend Lease to build a resort hotel within the Barangaroo development in Sydney.

The two deals – the sale of Packer’s controlling stake in ConsMedia and Crown’s plans for the Barangaroo site – are directly linked.


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