DOCSLIB.ORG

Global Radio

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Global Radio Global Radio Holdings Limited and GMG Radio Holdings Limited A report on the completed acquisition by Global Radio Holdings Limited of GMG Radio Holdings Limited 21 May 2013 Competition Commission 2013 Website: www.competition-commission.org.uk Members of the Competition Commission who conducted this inquiry Simon Polito (Chairman of the Group) Alexander Johnston Ian Jones Stephen Oram Chief Executive and Secretary of the Competition Commission David Saunders The Competition Commission has excluded from this published version of the final report information which the inquiry group considers should be excluded having regard to the three considerations set out in section 244 of the Enterprise Act 2002 (specified information: considerations relevant to disclosure). The omissions are indicated by []. Some numbers have been replaced by a range. These are shown in square brackets. Non-sensitive wording is also indicated in square brackets. iii Contents Page Summary .............................................................................................................................. 4 Findings ................................................................................................................................ 8 1. Background and the reference .......................................................................................... 8 2. Radio broadcasting ........................................................................................................... 8 Background and history .................................................................................................... 8 Regulation ........................................................................................................................ 9 The companies ............................................................................................................... 10 Global Radio............................................................................................................ 10 GMG Radio (now RSL) ............................................................................................ 11 Other commercial radio operators ........................................................................... 11 Radio listening ......................................................................................................... 13 Advertising on radio ........................................................................................................ 13 3. The merger and the relevant merger situation ................................................................ 14 The acquisition and rationale for the merger ................................................................... 14 Jurisdiction ..................................................................................................................... 14 4. The counterfactual .......................................................................................................... 15 Ownership of RSL .......................................................................................................... 16 The potential sale of RSL to a third party ................................................................. 16 Potential continued ownership of RSL by GMG ....................................................... 18 Conclusion on the ownership of RSL absent the merger ................................................ 18 The National Sales Agency Agreement .......................................................................... 18 Background to and principal terms of the Agreement .............................................. 19 Views of Global and GMG ....................................................................................... 19 Views of third parties ............................................................................................... 20 Our assessment ...................................................................................................... 20 Conclusion on the counterfactual ................................................................................... 21 5. The relevant market ........................................................................................................ 22 Product market definition ................................................................................................ 22 Listeners .................................................................................................................. 22 Advertising .............................................................................................................. 24 Competition from other media and the hypothetical monopolist test ........................ 26 Conclusion on product market definition .................................................................. 30 Geographic market definition .......................................................................................... 30 Conclusions on the relevant market ................................................................................ 31 6. Assessment of pre-merger competition........................................................................... 31 Radio station operators .................................................................................................. 31 Commercial radio revenue ............................................................................................. 32 Pricing and negotiations ................................................................................................. 35 Negotiations for non-contracted advertising ............................................................. 35 Negotiations for contracted advertising .................................................................... 37 Introduction to the assessment of pre-merger competition ............................................. 38 Competition with other media ......................................................................................... 38 The views of the parties ........................................................................................... 39 Third party views ..................................................................................................... 40 Our assessment ...................................................................................................... 41 Conclusion on competition with other media advertising .......................................... 48 Competition between radio stations ................................................................................ 49 Factors affecting competition between radio stations ............................................... 49 Competition between the parties’ stations ............................................................... 53 Conclusions on pre-merger competition ......................................................................... 56 7. Assessment of the competitive effects of the merger ...................................................... 57 The impact of the merger on competition in the overlap areas ........................................ 57 London .................................................................................................................... 59 1 East Midlands .......................................................................................................... 60 West Midlands ......................................................................................................... 62 Cardiff and South Wales .......................................................................................... 63 North Wales............................................................................................................. 65 Yorkshire, Humberside and Lincolnshire ................................................................. 67 Greater Manchester and the North-West ................................................................. 69 North-East ............................................................................................................... 71 Glasgow and Central Scotland ................................................................................ 73 Overview of the effects on non-contracted advertisers in the overlap areas ............ 75 Impact of the merger on advertisers buying through contracted agencies ...................... 76 Impact of the acquisition on competition .................................................................. 77 Our assessment ...................................................................................................... 79 Impact of the acquisition on possible future competition .......................................... 83 Conclusions on effects of the merger on advertisers buying through contracted agencies ................................................................................................................ 84 Branding effects ............................................................................................................. 85 Industry bodies ............................................................................................................... 86 Multiplex interests ........................................................................................................... 87 Rivalry-enhancing efficiencies ........................................................................................ 87 Views of the parties ................................................................................................. 87 Third
Load more

Recommended publications
  • North Wales PREPARING for EMERGENCIES Contents
    North Wales PREPARING FOR EMERGENCIES Contents introduction 4 flooding 6 severe weather 8 pandemic 10 terrorist incidents 12 industrial incidents 14 loss of critical infrastructure 16 animal disease 18 pollution 20 transport incidents 22 being prepared in the home 24 businesses being prepared 26 want to know more? 28 Published: Autumn 2020 introduction As part of the work of agencies involved in responding the counties of Cheshire and data), which is largely preparing for emergencies to emergencies – the Shropshire) and to the South by concentrated in the more across the region, key emergency services, local the border with mid-Wales industrial and urbanised areas partners work together to authorities, health, environment (specifically the counties of of the North East and along prepare the North Wales and utility organisations. Powys and Ceredigion). the North Wales coast. The Community Risk Register. population increases significantly The overall purpose is to ensure The land area of North Wales is during summer months. Less This document provides representatives work together to approximately 6,172 square than a quarter (22.32%) of the information on the biggest achieve an appropriate level of kilometres (which equates to total Welsh population lives in emergencies that could happen preparedness to respond to 29% of the total land area of North Wales. in the region and includes the emergencies that may have a Wales), and the coastline is impact on people, communities, significant impact on the almost 400 kilometres long. Over the following pages, we the environment and local communities of North Wales. will look at the key risks we face North Wales is divided into six businesses.
    [Show full text]
  • AP1 Companies Affiliates
    AP1 COMPANIES & AFFILIATES 100% RECORDS BIG MUSIC CONNOISSEUR 130701 LTD INTERNATIONAL COLLECTIONS 3 BEAT LABEL BLAIRHILL MEDIA LTD (FIRST NIGHT RECORDS) MANAGEMENT LTD BLIX STREET RECORDS COOKING VINYL LTD A&G PRODUCTIONS LTD (TOON COOL RECORDS) LTD BLUEPRINT RECORDING CR2 RECORDS ABSOLUTE MARKETING CORP CREATION RECORDS INTERNATIONAL LTD BOROUGH MUSIC LTD CREOLE RECORDS ABSOLUTE MARKETING BRAVOUR LTD CUMBANCHA LTD & DISTRIBUTION LTD BREAKBEAT KAOS CURB RECORDS LTD ACE RECORDS LTD BROWNSWOOD D RECORDS LTD (BEAT GOES PUBLIC, BIG RECORDINGS DE ANGELIS RECORDS BEAT, BLUE HORIZON, BUZZIN FLY RECORDS LTD BLUESVILLE, BOPLICITY, CARLTON VIDEO DEAGOSTINI CHISWICK, CONTEMPARY, DEATH IN VEGAS FANTASY, GALAXY, CEEDEE MAIL T/A GLOBESTYLE, JAZZLAND, ANGEL AIR RECS DECLAN COLGAN KENT, MILESTONE, NEW JAZZ, CENTURY MEDIA MUSIC ORIGINAL BLUES, BLUES (PONEGYRIC, DGM) CLASSICS, PABLO, PRESTIGE, CHAMPION RECORDS DEEPER SUBSTANCE (CHEEKY MUSIC, BADBOY, RIVERSIDE, SOUTHBOUND, RECORDS LTD SPECIALTY, STAX) MADHOUSE ) ADA GLOBAL LTD CHANDOS RECORDS DEFECTED RECORDS LTD ADVENTURE RECORDS LTD (2 FOR 1 BEAR ESSENTIALS, (ITH, FLUENTIAL) AIM LTD T/A INDEPENDENTS BRASS, CHACONNE, DELPHIAN RECORDS LTD DAY RECORDINGS COLLECT, FLYBACK, DELTA LEISURE GROPU PLC AIR MUSIC AND MEDIA HISTORIC, SACD) DEMON MUSIC GROUP AIR RECORDINGS LTD CHANNEL FOUR LTD ALBERT PRODUCTIONS TELEVISON (IMP RECORDS) ALL AROUND THE CHAPTER ONE DEUX-ELLES WORLD PRODUCTIONS RECORDS LTD DHARMA RECORDS LTD LTD CHEMIKAL- DISTINCTIVE RECORDS AMG LTD UNDERGROUND LTD (BETTER THE DEVIL) RECORDS DISKY COMMUNICATIONS
    [Show full text]
  • Our Manchester Voluntary and Community Sector
    Our Manchester Voluntary and Community Sector Grants Programme 2018/2019 Annual Report Community Hub Contents Foreword Manchester’s Voluntary and Community Sector This annual report celebrates the successes (VCS) organisations are a vital part of the fabric of the VCS organisations funded by the Council. Foreword 3 of the city. Their work is key to reaching those It’s wonderful to see what has already been untouched by Manchester’s success, to create achieved in the first year of the programme. Introduction 4 resilient and vibrant communities, and to make sure that they are able to access the best of It’s also a great opportunity to look forward Our year in numbers – what Manchester has to offer. The VCS plays and outline our ambitions for the next two 2018/2019 6 an important role in improving people’s skills years of the programme. This includes working and job prospects, encouraging residents to to strengthen our partnership with Manchester Supporting individuals 8 get involved in their neighbourhoods, building Health & Care Commissioning to extend the local partnerships, and celebrating the city’s reach of our investment and support to a Community impact 10 diverse communities. The work of voluntary broader range of organisations and residents. organisations is also typical of the Our Supporting volunteering We also recognise that these successes only Manchester way of working: listening to represent a portion of what VCS organisations in the city 12 people and recognising the best in them, deliver across the city. Despite the many and working together to improve the lives Better relationships 14 challenges and changes we face, our ambition of individuals and communities.
    [Show full text]
  • EMBARGOED 00.01 2 February 2012 REGIONAL
    PRESS RELEASE – EMBARGOED 00.01 2 February 2012 Year-on-Year growth for Smooth Radio UK and Real Radio brand Almost 5.6 million adults tune into a GMG Radio station each week – an extra 376,000 (YonY) Smooth Radio’s digital audience approaches 1 million adults each week GMG Radio’s Smooth Radio and Real Radio brands have recorded impressive year-on- year growth, according to the latest audience research out today (Thursday). 5.6 million adults now tune into one of the group’s stations each week - 376,000 more than a year ago. Smooth Radio UK’s weekly reach now stands at over 3.3 million adult listeners a week, up 231,000 on the same time last year. The audience also likes what they hear, with total hours listened to the station now standing at 25.75 million - almost two million (1.88m) more than a year ago – making it the UK’s second most listened to national commercial radio station. Simon Bates at Breakfast is celebrating his first year on Smooth Radio and has grown the breakfast audience by 69,000 to almost 1.4 million a week (YoY). For the group’s Real Radio brand the audience growth trend is also upwards. The stations, which broadcast on FM in Wales, Scotland, the North East and North West of England and Yorkshire and digitally across the UK, have added a total of 164,000 new adult listeners in the last year to give them a new weekly reach of just over 2.5 million adults.
    [Show full text]
  • Domain Stationid Station UDC Performance Date
    Number of days Amount Amount Performance Total Per Domain StationId Station UDC processed for from from Public Date Minute Rate distribution Broadcast Reception RADIO BR ONE BBC RADIO 1 NON PEAK BRA01 CENSUS 92 7.8347 4.2881 3.5466 RADIO BR ONE BBC RADIO 1 LOW PEAK BRB01 CENSUS 92 10.7078 7.1612 3.5466 RADIO BR ONE BBC RADIO 1 HIGH PEAK BRC01 CENSUS 92 13.5380 9.9913 3.5466 RADIO BR TWO BBC RADIO 2 NON PEAK BRA02 CENSUS 92 17.4596 11.2373 6.2223 RADIO BR TWO BBC RADIO 2 LOW PEAK BRB02 CENSUS 92 24.9887 18.7663 6.2223 RADIO BR TWO BBC RADIO 2 HIGH PEAK BRC02 CENSUS 92 32.4053 26.1830 6.2223 RADIO BR1EXT BBC RADIO 1XTRA NON PEAK BRA10 CENSUS 92 1.4814 1.4075 0.0739 RADIO BR1EXT BBC RADIO 1XTRA LOW PEAK BRB10 CENSUS 92 2.4245 2.3506 0.0739 RADIO BR1EXT BBC RADIO 1XTRA HIGH PEAK BRC10 CENSUS 92 3.3534 3.2795 0.0739 RADIO BRASIA BBC ASIAN NETWORK NON PEAK BRA65 CENSUS 92 1.4691 1.4593 0.0098 RADIO BRASIA BBC ASIAN NETWORK LOW PEAK BRB65 CENSUS 92 2.4468 2.4371 0.0098 RADIO BRASIA BBC ASIAN NETWORK HIGH PEAK BRC65 CENSUS 92 3.4100 3.4003 0.0098 RADIO BRBEDS BBC THREE COUNTIES RADIO NON PEAK BRA62 CENSUS 92 0.1516 0.1104 0.0411 RADIO BRBEDS BBC THREE COUNTIES RADIO LOW PEAK BRB62 CENSUS 92 0.2256 0.1844 0.0411 RADIO BRBEDS BBC THREE COUNTIES RADIO HIGH PEAK BRC62 CENSUS 92 0.2985 0.2573 0.0411 RADIO BRBERK BBC RADIO BERKSHIRE NON PEAK BRA64 CENSUS 92 0.0803 0.0569 0.0233 RADIO BRBERK BBC RADIO BERKSHIRE LOW PEAK BRB64 CENSUS 92 0.1184 0.0951 0.0233 RADIO BRBERK BBC RADIO BERKSHIRE HIGH PEAK BRC64 CENSUS 92 0.1560 0.1327 0.0233 RADIO BRBRIS BBC
    [Show full text]
  • Dfa Investment Trust Co
    SECURITIES AND EXCHANGE COMMISSION FORM N-Q Quarterly schedule of portfolio holdings of registered management investment company filed on Form N-Q Filing Date: 2004-10-27 | Period of Report: 2004-08-31 SEC Accession No. 0001104659-04-032148 (HTML Version on secdatabase.com) FILER DFA INVESTMENT TRUST CO Business Address 1299 OCEAN AVE CIK:896162| IRS No.: 000000000 | State of Incorp.:DE | Fiscal Year End: 1130 11TH FLOOR Type: N-Q | Act: 40 | File No.: 811-07436 | Film No.: 041100436 SANTA MONICA CA 90401 3103958005 Copyright © 2012 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-7436 THE DFA INVESTMENT TRUST COMPANY (Exact name of registrant as specified in charter) 1299 Ocean Avenue, 11th Floor, Santa Monica, CA 90401 (Address of principal executive offices) (Zip code) Catherine L. Newell, Esquire, Vice President and Secretary The DFA Investment Trust Company, 1299 Ocean Avenue, 11th Floor, Santa Monica, CA 90401 (Name and address of agent for service) Registrant's telephone number, including area code: 310-395-8005 Date of fiscal year end: November 30 Date of reporting period: August 31, 2004 ITEM 1. SCHEDULE OF INVESTMENTS. The DFA Investment Trust Company Form N-Q August 31, 2004 (Unaudited) Table of Contents Schedules of Investments The U.S. Large Company Series The Enhanced U.S. Large Company Series The U.S. Large Cap Value Series The U.S.
    [Show full text]
  • Portland Public Schools Project Chrysalis: Year 2 Evaluation Report
    DOCUMENT RESUME CG 028 150 ED 412 487 Hahn, Karen J.; AUTHOR Mitchell, Stephanie J.; Gabriel, Roy M.; Laws, Katherine E. Chrysalis: Year 2 Evaluation TITLE Portland Public Schools Project Report. and Evaluation Dept.; INSTITUTION Portland Public Schools, OR. Research RMC Research Corp., Portland, OR. PUB DATE 1996-12-00 NOTE 198p. PUB TYPE Reports Evaluative (142) EDRS PRICE MF01/PC08 Plus Postage. High Risk Students; High DESCRIPTORS Adolescents; Child Abuse; *Females; Schools; *Intervention; *Mental Health;Program Effectiveness; Program EValuation; SchoolCounseling; *Sexual Abuse; *Substance Abuse IDENTIFIERS Portland School District OR ABSTRACT In 1994, the Chrysalis Projectin Portland Public Schools received funding to prevent or delaythe onset of substance abuse among a of special target population: high-risk,female adolescents with a history of childhood abuse. Findings from theevaluation of the project's second year providing assistance to these students arereported here. During the 1995-1996 school year, the projectserved 370 young women in grades 9through and 2 alternative 12. The program operates in all10 traditional high schools schools in the district. Theevaluation reported here assesses the effectiveness of the specific programintervention strategies. It also the documents the process of servicedelivery and program implementation at The key schools to help interpret and givecontext to the project outcomes. relationships findings of the outcome evaluationindicate several significant students who among different healthrisk behavior areas (i.e., Chrysalis attended more support groups reportedluvicr rates of marijuana use inthe and past month). The results showrelationships among a history of abuse increased use of alcohol and other drugs,sexual behaviors, violence-related behaviors, and suicide ideation in young women.
    [Show full text]
  • GMG Radio Response to the Ofcom Consultation on Review of Procedures for Handling Broadcasting Complaints, Investigations and Sanctions
    GMG Radio response to the Ofcom consultation on review of procedures for handling broadcasting complaints, investigations and sanctions Introduction GMG Radio plc is part of The Guardian Media Group and operates fourteen analogue licences within the UK under the separate Real, Smooth and Rock Radio brands. The company was an inaugural partner and is currently a 35% shareholder in the MXR regional multiplex consortium as well as being a long-term service provider on each of its platforms. GMG Radio is also a founding partner and stakeholder in Digital Radio UK, the body charged with helping prepare the UK for digital switchover. GMG Radio considers regulatory compliance to be a hugely important and crucial element to our overall business operation and welcomes proposals which are genuinely designed to assist in improving standards and enhance understanding of regulatory procedures. We note this consultation seeks stakeholder views on proposed changes to procedures as opposed to responses to specific questions. Current understanding Ofcom has no wish to dilute the current process by which it can diligently follow when investigating breaches of broadcast licences, investigating complaints including those on fairness and privacy issues and the consideration of statutory sanctions for proven breaches. As such this consultation is specifically placed within the public arena in order to enlist stakeholder opinions on planned changes which are ultimately designed to ensure an ongoing commitment to the principles of continued fairness to those directly involved and at the same time introduce new procedures which are clearer, simpler and can be implemented as effectively and efficiently as possible. The consultation documents sets out proposals for new procedures covering the handling of broadcasting complaints, investigations and sanctions and it invites written views and comments on each of them prior to the publishing of a finalized version.
    [Show full text]
  • Digital Switchover of Television and Radio in the United Kingdom
    HOUSE OF LORDS Select Committee on Communications 2nd Report of Session 2009–10 Digital switchover of television and radio in the United Kingdom Report with Evidence Ordered to be printed 18 March 2010 and published 29 March 2010 Published by the Authority of the House of Lords London : The Stationery Office Limited £price HL Paper 100 The Select Committee on Communications The Select Committee on Communications was appointed by the House of Lords with the orders of reference “to consider communications”. Current Membership Baroness Bonham-Carter of Yarnbury Baroness Eccles of Moulton Lord Fowler (Chairman) Lord Gordon of Strathblane Baroness Howe of Idlicote Lord Inglewood Lord King of Bridgwater Lord Macdonald of Tradeston Baroness McIntosh of Hudnall Bishop of Manchester Lord Maxton Lord St John of Bletso Baroness Scott of Needham Market Publications The report and evidence of the Committee are published by The Stationery Office by Order of the House. All publications of the Committee are available on the intranet at: http://www.parliament.uk/parliamentary_committees/communications.cfm General Information General information about the House of Lords and its Committees, including guidance to witnesses, details of current inquiries and forthcoming meetings is on the internet at: http://www.parliament.uk/about_lords/about_lords.cfm Contact details All correspondence should be addressed to the Clerk of the Select Committee on Communications, Committee Office, House of Lords, London SW1A 0PW The telephone number for general enquiries is
    [Show full text]
  • 3 Radio and Audio Content 3 3.1 Recent Developments in Scotland
    3 Radio and audio content 3 3.1 Recent developments in Scotland Real Radio Scotland has been rebranded as Heart In February 2014 Capital Scotland was sold to the Irish media holding company, Communicorp. It was sold as part of eight stations divested by Global Radio to satisfy the UK regulatory authorities following the acquisition, two years ago, of GMG Radio from Guardian Media Group. Under a brand licensing agreement, Communicorp has rebranded the 'Real' stations under the 'Heart' franchise and plans to relaunch the 'Smooth' stations following the reintroduction of local programming. Therefore, Real Radio Scotland was rebranded as Heart Scotland in May 2014. XFM Scotland was re-launched by its owners, Global Radio, in March 2014. 3.2 Radio station availability Five new community radio stations are available to listeners in Scotland Scotland’s community radio industry has continued to grow. There are now 23 community stations on air, out of the 31 licences that have been awarded in Scotland. New to air in 2013/14 were East Coast FM, Irvine Beat FM, Crystal Radio, and K107 FM. Irvine Beat FM has received funding from the Lottery Awards for All fund to build a training studio. Nevis Radio, which serves Fort William and the surrounding areas, was originally licensed as a commercial radio service, but having chosen to become a community radio service it was awarded this licence instead, on application. The remaining eight of the most recent round of licence awards are preparing to launch. A licensee has two years from the date of the licence award in which to launch a service.
    [Show full text]
  • Pocketbook for You, in Any Print Style: Including Updated and Filtered Data, However You Want It
    Hello Since 1994, Media UK - www.mediauk.com - has contained a full media directory. We now contain media news from over 50 sources, RAJAR and playlist information, the industry's widest selection of radio jobs, and much more - and it's all free. From our directory, we're proud to be able to produce a new edition of the Radio Pocket Book. We've based this on the Radio Authority version that was available when we launched 17 years ago. We hope you find it useful. Enjoy this return of an old favourite: and set mediauk.com on your browser favourites list. James Cridland Managing Director Media UK First published in Great Britain in September 2011 Copyright © 1994-2011 Not At All Bad Ltd. All Rights Reserved. mediauk.com/terms This edition produced October 18, 2011 Set in Book Antiqua Printed on dead trees Published by Not At All Bad Ltd (t/a Media UK) Registered in England, No 6312072 Registered Office (not for correspondence): 96a Curtain Road, London EC2A 3AA 020 7100 1811 [email protected] @mediauk www.mediauk.com Foreword In 1975, when I was 13, I wrote to the IBA to ask for a copy of their latest publication grandly titled Transmitting stations: a Pocket Guide. The year before I had listened with excitement to the launch of our local commercial station, Liverpool's Radio City, and wanted to find out what other stations I might be able to pick up. In those days the Guide covered TV as well as radio, which could only manage to fill two pages – but then there were only 19 “ILR” stations.
    [Show full text]
  • Completed Acquisition by Global Radio Uk Ltd of Gcap Media Plc
    COMPLETED ACQUISITION BY GLOBAL RADIO UK LTD OF GCAP MEDIA PLC UNDERTAKINGS TO BE GIVEN BY GLOBAL RADIO UK LTD TO THE OFFICE OF FAIR TRADING PURSUANT TO SECTION 73 OF THE ENTERPRISE ACT 2002 WHEREAS: (a) On 6 June 2008 Global acquired GCAP; (b) It appears to the OFT that, as a consequence of that transaction, a relevant merger situation has been created in the UK; (c) The OFT has a duty to refer a completed merger to the CC for further investigation where it believes that it is or may be the case that the creation of that merger situation has resulted or may be expected to result in a substantial lessening of competition within any market or markets in the UK for goods or services; (d) Under section 73 of the Act the OFT may, instead of making such a reference and for the purpose of remedying, mitigating or preventing the substantial lessening of competition concerned or any adverse effect which may be expected to result from it, accept undertakings to take such action as it considers appropriate, from such of the parties concerned as it considers appropriate, in particular having regard to the need to achieve as comprehensive a solution as is reasonable and practicable to the substantial lessening of competition and any adverse effects resulting from it; (e) The OFT considers that, in the absence of appropriate undertakings, it would be under a duty to refer the acquisition of GCAP to the CC; and (f) The OFT further considers that the undertakings given below by Global are appropriate to remedy, mitigate or prevent the substantial lessening of competition, or any adverse effect which has or may have resulted from it, or may be expected to result from it, as specified in the Decision.
    [Show full text]