Optus CEO Has Concerns About Proposed Foxtel-Austar Merger
31 Mai 2011 - 3:01AM
Dow Jones News
Optus has concerns about the proposed merger of Foxtel and rival
pay-TV company Austar United Communications Ltd. (AUN.AU), Optus
Chief Executive Paul O'Sullivan said Tuesday.
"We are particularly concerned that the proposed merger of
Foxtel and Austar will create a further barrier to competition
accessing content," O'Sullivan said.
"We urge the (Australian Consumer and Competition Commission) to
use the merger approval process to evaluate creating must-share
content provisions," he said at a conference in Sydney.
Foxtel has offered to buy Austar for 1.92 billion Australian
dollars ($2.02 billion), in a deal that will face antitrust
scrutiny from regulators. The ACCC has said it is conducting an
informal review of the merger.
Foxtel, which is 50%-owned by telecommunications giant Telstra
Corp. (TLS) and 25% each by News Corp. (NWS) and Consolidated Media
Holdings Ltd. (CMJ.AU), said Thursday that it had offered to buy
Austar for A$1.52 a share.
Optus is owned by Singapore Telecommunications Ltd. (SGAPY).
-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692;
Ross.Kelly@dowjones.com
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