ACCC gives thumbs up for Eye sale

By AdNews | 21 September 2012

The Australian Competition and Consumer Commission has given the green light for Ten Network Holdings to sell its outdoor business Eye.

In July, Ten confirmed it was in talks with Ooh!Media's parent company Outdoor Media Operations (OMO) regarding the sale of Eye.

OMO has agreed to buy the business for up to $145 million, with $120 million paid upon completion and a deferred consideration of $25 million payable after three years.

The sale has been a hot industry topic for several months. Early on in the process, it is understood APN News & Media and JCDecaux were also vying for the business.

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