D-Day: the decision on the Foxtel-Austar merger is due to be decided April 10th.
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|On or off? final decsion on Foxtel-Austar merger to be decided next week.|
The competition watchdog, ACCC, will have the final say on whether Foxtel will be allowed takeover regional pay TV player Austar in a $2 billion deal, following its “market inquiry” into the proposed transaction on Tuesday.
The deal, if allowed, would give Foxtel – 25% owned by scandal riddled News Ltd – 97% control of the subscription TV market in Australia.
The Australian Competition and Consumer Commission has already put back its decision on the deal calling on Foxtel, which is 50% owned by Telstra, demanding the company give a series of undertakings to prevent a monopolistic position from developing.
These ‘undertakings’ are aimed at resolving the ACCC’s competition concerns relating to Foxtel’s proposed acquisition of Austar, which includes rival players’ access to channels including Sky News, Disney and channel signals.
New Limited parent company News Corp, has landed in hot water over allegations it the UK and by Australian Financial Review that an associated company, NDS, hacked into rival players computer systems and smartcard codes, forcing them to go bust.