News Corp is set to increase its presence in Australia’s subscription-TV market after Consolidated Media Holdings shareholders approved its 1.94 billion Australian dollar ($2.01 billion) bid for the company.

The deal will see News Corp double its stake in Australian subscription-TV provider Foxtel to 50 per cent, and gain full ownership of sports-channel Fox Sports. Australia’s largest telephone company Telstra Corp. owns the remaining 50 per cent of Foxtel.

The deal has to go to Australia’s Federal Court for approval – something investors see as a formality – before being completed on November 19th.

Other posts by :

1. AST SpaceMobile: “Good for indoor reception”
2. EchoStar booms on SpaceX holding
3. Norway wants a satellite constellation
4. Crossroads backs AST SpaceMobile
5. FCC examines SpaceX’s 15,000 sat-constellation plan
6. EchoStar: “Severe uncertainty” led to spectrum sales
7. Netflix gets downgrade on Warner Bros move
8. UK trims Orbex investment
9. Euro-bank sets up €500m space fund

Categories: Articles, Business, M&A, Pay TV