Australia Says $2.7B Foxtel Deal Threatens Competition

Law360, New York (July 22, 2011, 5:46 PM EDT) -- Australia's antitrust regulator on Friday sounded off on News Corp.-owned Foxtel's planned $2.7 billion acquisition of Austar United Communications Ltd., saying that the merger of the two premium cable providers would diminish competition in the country's television services market.

The Australian Competition and Consumer Commission said in a statement of issues that the potential Foxtel-Austar merger, if completed, would “effectively create a near monopoly subscription television provider across Australia."

Foxtel proposed its takeover of Austar on May 26, with the terms of the acquisition being ironed...
To view the full article, register now.