Australia OKs Foxtel's $2.7B Austar Buy After Concessions

Law360, New York (April 10, 2012, 2:47 PM EDT) -- Australia's antitrust watchdog on Tuesday greenlighted Foxtel Management Pty Ltd.’s $2.7 billion bid to acquire rival subscription television company Austar United Communications Ltd. after approving a series of proposals from Foxtel that address competition concerns about the deal.

Foxtel’s court-enforceable proposals will prevent the company from acquiring exclusive Internet protocol television rights for a variety of television shows and movies, the Australian Competition and Consumer Commission said. The conditions will also prevent Foxtel from exclusively buying any movie delivered via transactional video on demand, the commission...
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