Foxtel Takeover
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 24 May 2012.
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“A poet is a combination of an instrument and a human being in one person, with the former gradually taking over the latter. The sensation of this takeover is responsible for timbre; the realization of it, for destiny.”
—Joseph Brodsky (b. 1940)