Business Services Industry
Money in bag, Foxtel aims to put more channels on the box.
Australasian Business Intelligence, October, 2003
Oct 27, 2003 (The Australian - ABIX via COMTEX)
Australian pay television group, Foxtel, has gained funding for its upgrade program. Foxtel has secured a fully non-recourse loan of $A550 million with a syndicate of banks led by Commonwealth Bank and ABN Amro. This relieves the shareholders from the possibility of having to provide the finance. The funding will be used to upgrade from analogue to digital technology. Foxtel will be able to offer 120 channels, as well as new services such as video-on-demand and greater viewer interactivity. Foxtel expects that this will increase its subscription numbers.
Publication Date: 28 October 2003
FOXTEL:
COMMONWEALTH BANK OF AUSTRALIA - ASX
CBA:
ABN AMRO BANK NV - ASX ABO:...
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