Australian Stock Report - Share Tips
Foxtel To Purchase Austar
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Publish date: Tue, 10 Apr 2012, 02:54 PM
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Foxtel To Purchase Austar
Austar United Communications Limited provides subscription television services such as digital satellite services to customers in regional and rural areas of Australia. The Company also offers dial-up internet and mobile phone services.
The ACCC said that it won't oppose pay television company Foxtel's 1.9 billion Australian dollar takeover of fellow pay television company Austar United Communication.
Foxtel said that it will undertake a court-enforceable undertaking which prevents it from buying exclusive internet protocol television rights for a range of TV shows and movies.
The Foxtel-Austar tie-up is due to go to Australia’s Federal Court on April 13 for approval.
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