News Limited's Bid For TV Rival Concerns Australian Watchdog
Source: Agencies |
July 23, 2011, Saturday
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Print Edition
Print Edition
AUSTRALIA'S competition watchdog is concerned about a bid by Rupert Murdoch's cable TV operation to buy out a rival, saying it would create "a near monopoly" of pay TV service in the country.
The statement yesterday by the Australian Competition and Consumer Commission is another setback for Murdoch, whose media empire is embroiled in a phone hacking scandal in Britain. His News Limited, a subsidiary of his US-based News Corp, has substantial stakes in Australian media companies, including in FOXTEL, the country's largest pay TV provider.
Although the ACCC's statement is only preliminary, it's clear that it opposes such a merger. The deal cannot go through without the commission's approval.
FOXTEL, which delivers more than 200 channels to 1.63 million subscribers in Australia, is seeking to buy Austar, which has over 760,000 subscribers.
The statement yesterday by the Australian Competition and Consumer Commission is another setback for Murdoch, whose media empire is embroiled in a phone hacking scandal in Britain. His News Limited, a subsidiary of his US-based News Corp, has substantial stakes in Australian media companies, including in FOXTEL, the country's largest pay TV provider.
Although the ACCC's statement is only preliminary, it's clear that it opposes such a merger. The deal cannot go through without the commission's approval.
FOXTEL, which delivers more than 200 channels to 1.63 million subscribers in Australia, is seeking to buy Austar, which has over 760,000 subscribers.
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