Green light for Foxtel-Austar deal

Australia’s Treasurer Wayne Swan has given the green light for pay-TV provider Foxtel’s $2.5 billion takeover for regional pay-TV operator Austar.

Approval from the Australian Competition and Consumer Commission (ACCC) is still needed for the deal to proceed.

The ACCC raised some concerns about the tie-up in a statement of issues published in July and is expected to issue its decision next year.

A ruling was scheduled for publication at the end of November, but was delayed at the request of Foxtel to allow the company to make further submissions.

Foxtel is half-owned by Telstra, with James Packer’s Consolidated Media Holdings and Rupert Murdoch’s News Corporation each holding a 25 per cent stake.

You must be logged in to post a comment Login