UPDATE: Foxtel Offers Regulator Promises To Buy Austar
07 3월 2012 - 9:57AM
Dow Jones News
Australian pay-TV company Foxtel has moved closer to buying
regional competitor Austar United Communications Ltd. (AUN.AU) for
1.9 billion Australian dollars (US$2 billion) by proposing changes
to the deal that would address competition concerns.
Foxtel has offered an undertaking to the Australian Competition
and Consumer Commission, or ACCC, that would prevent it from
locking in exclusive content agreements for television content
broadcast online, the regulator said Wednesday. Although the
agreement does not include some big-ticket domestic sporting
events, the regulator said concerns about exclusive sports rights
exist independently of the deal anyway.
"While premium domestic sport is therefore not offered as part
of the undertaking the ACCC considers that the package of content
that will be made available will be sufficient to address the
competitive harm that is likely to arise as a result of the
proposed acquisition," the ACCC said in a statement.
Australia is undergoing massive structural change in its
telecommunications sector with the roll out of a A$36 billion
national high-speed broadband network. Telstra Corp. (TLS.AU) will
be a major retailer of broadband services on the new network and
also owns 50% of Foxtel, raising concerns it could wield too much
power if two of Australia's largest pay-TV companies combine.
The other half of Foxtel is owned by News Corp. (NWS), the owner
of this newswire, and Consolidated Media Holdings Ltd. (CMJ.AU),
which each have a 25% stake.
In a major hindrance to the deal's progress, the ACCC said last
July it was "likely to result in a substantial lessening of
competition" in the pay-TV services market, the market for TV
content, and several markets for telecommunications products in
Australia. Austar shares took a tumble but have since tracked
higher amid speculation the parties would tweak the deal to win the
regulator's blessing.
By 2355 GMT, they had jumped another 4.8% to A$1.425, closing in
on the A$1.52 value of Foxtel's bid. The ACCC said it will either
accept or reject the proposed undertaking following market
consultation and has set a tentative decision date of March 29.
Austar welcomed the ACCC's market inquiry into the undertaking,
which it said is aimed at fully resolving competition concerns
about the deal.
-By Ross Kelly, Dow Jones Newswires; +61-2-8272-4692;
Ross.Kelly@dowjones.com
Aurumin (ASX:AUN)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Aurumin (ASX:AUN)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024
