Australia's Regulator Delays Foxtel/ Austar Decision A Day
21 Juillet 2011 - 10:44AM
Dow Jones News
Australia's competition regulator has delayed until Friday its
ruling on Foxtel's proposed 2.5 billion Australian dollar (US$2.7
billion) takeover of regional pay television company Austar United
Communications Ltd. (AUN.AU).
The Australian Competition and Consumer Commission's decision,
originally slated for Thursday, is now expected to be released
Friday morning, a spokesman for the regulator said. The spokesman
said the delay was due to administrative reasons.
Foxtel is 50% owned by Telstra Corp. (TLS.AU) and 25% each by
News Corp. (NWS) and Consolidated Media Holdings Ltd. (CMJ.AU). A
spokesman of News Corp.'s Australian unit declined to comment when
called. News Corp., owner of Dow Jones & Co., the publisher of
this newswire, is fighting to contain a phone hacking scandal that
has engulfed its tabloid newspaper assets in the U.K.
-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692;
Ross.Kelly@dowjones.com
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