History
In 1995 a venture between News Corporation (in particular 20th Century Fox Media) and Telstra took place whereby Telstra would transmit a TV signal through its coaxial network and News Corporation would be the basis for offering channel negotiations and connections. Foxtel was formed (Fox - being News Corporation Fox; and Tel - being Telstra).
In October 1995, Foxtel commenced a 20 channel service, delivered over the Telstra Hybrid Fibre Coaxial network.
In May 1998, Australis Media, the owner of a satellite television service known as Galaxy, was declared insolvent. In June 1998 Foxtel was able to significantly boost its customer base by acquiring Galaxy subscribers from the liquidator of Australis Media and immediately commenced supplying programming to Galaxy's subscribers on an interim basis. In February 1999 Foxtel began offering its own satellite service to new customers.
Publishing and Broadcasting Limited bought half of News Corporations shares in October 1998, giving each quarter ownership.
In 2002, a Content Sharing Agreement between Foxtel and Optus Television was approved by the Australian Competition and Consumer Commission (ACCC).
On 11 July 2011, Austar announced that "it had entered into definitive transaction agreements with Liberty Global, Inc. (LGI) and FOXTEL Management Pty Limited (FOXTEL) under which FOXTEL will acquire AUSTAR by a series of transactions including a scheme of arrangement (Scheme)." This takeover involved a minority shareholder approval on 30 March 2012, the approval of the Australian Competition and Consumer Commission (ACCC) on 10 April 2012, and has had approval from a Second Court Hearing. The Austar shares have been suspended on the ASX as of 16 April 2012, and were delisted from the ASX on 27 April 2012. The takeover was completed on the 24 May 2012.
News corporation acquired Consolidated Media Holdings in November 2012, bringing it's stake to 50% up from 25%.
Read more about this topic: Foxtel
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