ACCC steps in to probe predatory pricing claims
According to the Geelong Independent, a separate local title, real estate agents have disclosed that they have been interviewed by ACCC representatives over alleged "advertising rate cuts, kickbacks and free deals" by the Geelong Advertiser.
The Weekly Review is a free real estate and lifestyle magazine delivered to homes across Melbourne and Geelong. It was founded in 2010 and is owned by Metro Media Publishing, a joint venture set up in December 2011 between Fairfax Media - owner of The Age - and Antony Catalano. It has brought significant competition to the Geelong Advertiser, which is Victoria's oldest morning newspaper.
Peter Klages, general manager of the Geelong Advertiser, said in response to the allegations: "Since its inception 173 years ago, the Geelong Advertiser has always had a strong bond with its community.
"It has always behaved honourably and honestly with its readers and its customers. It has always strived for excellence and strong public service. We strongly believe we have always behaved ethically and lawfully."
MMP, News Corp Australia, Fairfax Media and the ACCC all declined to comment.
Frequently Asked Questions about this Article…
The Australian Competition and Consumer Commission (ACCC) is investigating allegations that the Geelong Advertiser, owned by News Corporation Australia, has engaged in predatory pricing activities since the arrival of its rival, The Weekly Review.
The allegations against the Geelong Advertiser include claims of advertising rate cuts, kickbacks, and free deals, which are being investigated by the ACCC.
The Weekly Review is owned by Metro Media Publishing, a joint venture between Fairfax Media and Antony Catalano. It is a free real estate and lifestyle magazine that has brought significant competition to the Geelong Advertiser.
Peter Klages, the general manager of the Geelong Advertiser, stated that the newspaper has always had a strong bond with its community and has behaved honorably and honestly with its readers and customers, striving for excellence and strong public service.
The Geelong Advertiser is Victoria's oldest morning newspaper, with a history dating back 173 years, and it has maintained a strong connection with its community throughout its existence.
The ACCC's investigation is important for everyday investors as it addresses potential anti-competitive practices that could impact market fairness and the financial health of companies involved, influencing investment decisions.
The competition between the Geelong Advertiser and The Weekly Review is significant as it highlights the dynamics of media competition in the region, which can affect advertising rates and market share, impacting the financial performance of the companies involved.
No, MMP, News Corp Australia, Fairfax Media, and the ACCC have all declined to comment on the investigation.
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