oOh!media, ACCC in talks on discounts

oOh!media has acknowledged holding discussions with the ACCC in relation to ‘discounts and rebates’’ on advertising.

Australia’s corporate regulator is talking to outdoor advertising companies, including oOh!-media, about the use of rebates and discounts following a flurry of industry consolidation.

An ACCC spokesman declined to be specific, but noted it “regularly engages with operators in a variety of sectors across the Australian economy”.

oOh!media, which last year bought outdoor advertising business Adshel for $570 million from HT&E, also acknowledged discussions in relation to “discounts and rebates in the out-of-home advertising industry”.

“As part of its usual business operations oOh!media corresponds with regulators, including the ACCC, from time to time. oOh!media understands its legal obligations and respects the ACCC’s processes.

“oOh!media’s practice is to engage with regulators to assist with any questions regarding the industry,” the group said in a brief statement to the ASX after the close of trade on Wednesday.

As well as the Adshel deal, French giant JCDecaux bought APN Outdoor for $1.09 billion last year in June. Both deals were approved by the ACCC.

At the time, ACCC chairman Rod Sims said the transactions were between businesses that operated for the most part in complementary segments of out-of-home advertising.

In 2017, the ACCC blocked a $1.6bn merger between APN Outdoor and oOh!media because they were in direct competition with each other.

A spokeswoman for JCDecaux declined to comment.