The Australian Competition and Consumer Commission (ACCC) announced that it would not oppose the proposed acquisition by News Corporation (News Corp) of 100% of the shares in Consolidated Media Holdings Limited (CMH). The bid has also been backed by billionaire James Packer, who owns 50% of Consolidated. As per the terms of the deal, News Corp will get a 50% stake in pay-TV network Foxtel and full ownership of the Fox Sports business in Australia. It will also get broadcast rights to the most … [Read more...] about Australia’s competition regulator approves News Corp’s acquisition of Consolidated Media
Australian Competition and Consumer Commission
News Corp to buy Consolidated Media Holdings
Sydney - Consolidated Media Holdings Limited (CMH) has announced that it has received a conditional and nonâ€binding proposal from News Limited (News) to acquire CMH at a price of US $3.50 cash per share by way of a scheme of arrangement on a CMH board – recommended basis (the Proposal). If the acquisition goes through, the Rupert Murdoch-owned News Corp will own 50% of Foxtel, Australia’s largest Pay-TV business. The proposal is subject to a number of conditions. These … [Read more...] about News Corp to buy Consolidated Media Holdings
Breaking: Australia’s FOXTEL and AUSTAR set to merge after regulator ACCC gives green light
FOXTEL and AUSTAR will join forces to create a national subscription television service for all consumers after the Australian Competition and Consumer Commission (ACCC) today accepted an undertaking from FOXTEL and green lit the transaction to merge the companies. The transaction is subject to final Federal Court approval on 13 April. The ACCC said today it had accepted a set of undertakings offered by FOXTEL in order to facilitate the merger process. On 30 March 2012, AUSTAR … [Read more...] about Breaking: Australia’s FOXTEL and AUSTAR set to merge after regulator ACCC gives green light
