Austar United Communications Limited : AUSTAR PROVIDES UPDATE ON PROPOSED FOXTEL TRANSACTION
02/02/2012 | 06:30pm
Media Release 3 February 2012
AUSTAR PROVIDES UPDATE ON PROPOSED FOXTEL TRANSACTION
AUSTAR United Communications Limited (ASX: AUN) (AUSTAR)
announced today it will seek court approval to postpone its
Shareholder Meetings relating to the proposed acquisition of
AUSTAR by FOXTEL Management Pty Ltd (FOXTEL) to the end of
March 2012. This will allow time for the Australian
Competition and Consumer Commission (ACCC) to finalise its
review of the transaction.
Further details of the postponement will be released to the
market following the court hearing, which is expected to be
held next week.
AUSTAR Chief Executive Officer John Porter said: "AUSTAR
remains committed to, and confident of, bringing the
transaction with FOXTEL to a successful close."
If shareholders
have questions in relation to the Transaction they may call
the AUSTAR Shareholder Information Line 1300 706 158 (within
Australia) or on +61 3 9946 4459 (outside Australia) Monday
to Friday between 9:00am and 5:00pm (Sydney time) or contact
their legal, financial, taxation or other professional
adviser. Information is also available through AUSTAR's
website, www.austarunited.com.au.
AUSTAR Contact:
Deanne Weir
Group Director, Corporate Development m. 0402 865 300
e. dweir@austar.com.au
Catherine Douglas
Group Manager, Corporate Affairs m: 0477 100 978
e: cdouglas@austar.com.au
Austar United Communications (AUSTAR) www.austarunited.com.au
AUSTAR (Australian Stock Exchange "AUN") is a leading
provider of subscription television services in regional and
rural Australia, with more than 760,000 customers enjoying
satellite digital television services. AUSTAR is also a
significant provider of programming in the Australian
television market through its 50% owned joint venture,
XYZnetworks, which owns and/or distributes Nickelodeon, Nick
Jr, Discovery Channel, Channel [V], [V]Hits, MAX, Arena, The
Lifestyle Channel, Lifestyle Food, LifeStyle You, Country
Music Channel and The Weather Channel. Liberty Global, Inc.,
the largest international broadband cable operator in terms
of subscribers, holds an indirect controlling stake in
AUSTAR.
