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Foxtel to fight ACCC veto of pay-TV deal.
Australasian Business Intelligence, June, 2002
Tags: alliance, Australian Competition and Consumer Commission, commission, pay-TV
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ABIX via COMTEX) -- Foxtel is working on a response to the Australian Competition and Consumer Commission's negative ruling on an alliance with Optus. The commission on 21 June 2002 blocked the $A1.3 billion pay television deal on the grounds it would inhibit competition in key markets. Foxtel officials pledged to work with the commission to overcome the objections.
The commission's decision was a victory for rival media groups that had lobbied against the alliance. Foxtel sources say the deal is important because it would reduce the pay television industry's high programming costs. ...
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