Decision Nº M/06/054 from Competition and Consumer Protection Commission, 2006-09-14

Decision NumberM/06/054
PartiesPearson (FT),Mergermarket
StatusCleared (Phase 1)
Merger Notification M/06/054 – Pearon (FT)/ MergerMarket
Section 21 of the Competition Act 2002
Proposed acquisition by Financial Times Group Limited of
Mergermarket Limited
Dated 14/09/06
1. On 15 August 2006, the Compet ition Authority (“the Authority”), in
accordance with Sect ion 18 (1) of the Competition Act, 2002 (“the Act”)
was notified, on a mandatory basis, of a proposal whereby the Financial
Times Group Limited (“FT”), a wholly-owned subsidiary of Pearson plc
(“Pearson”), would acquire the entire issued share capital of Mergermarket
Limited (“Mergermarket”) (“the proposed transa ction”).
2. The Authority forwarded a copy of the notification to the Minister and
notified the undertakings involved that it considers the acquisition to be a
media merger, in accordance with section 23 (1) of the Act.
The Undertakings Involved
3. FT, the acquirer, publishes the Financial Times newspaper and operates, an online version of the Financial Times with archive articles and
updates and breaking news stories.
4. An additional service offered by FT is ‘FT Research Centre’. FT Researc h
Centre is an international research servic e providing customised financial
and economic r esearch. The service is aimed at SMEs without an in-house
research capacity.
5. ‘FT Interactive’ is a f urther service offered by FT c omprising of the supply
of time-sensitive fina ncial market pricing data and decision-support tools
for institutional and trading clients.
6. All of the above services and the Financial Times newspaper are offe red by
FT are available to customers in the State.
7. FT has a 50% share in the publication, T he Economist. The Ec onomist is
also a vailable online, however, l ike, access t o most of its articles
and news (“content”) is by subscription.
8. Some informationa l news services are available on-line on F and on
the onlin e version of The Economist without subscription. These services,
however, while a llowing you to review current news topics, do not a llow
the user to download certain of the articles in question without having

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