Foxtel finds bankroll for digital bow
Platform secures loans for VOD, interactive services
|
More Articles:
Most Viewed:
Zucker discusses Comcast deal(1384 views)CBS cancels 'As the World Turns'(1353 views)Film composers lose luster(1290 views)Focus to film 'Fela' feature(1216 views)'Dexter' kills for Showtime(866 views)Frank Langella hears 'Male' call(844 views) |
The financing took months to conclude because Foxtel wanted to secure the loans, rather than raising the cash through its shareholders News Corp., Publishing & Broadcasting and Telstra.
Commonwealth Bank and ABN Amro will act as lead arrangers, handling syndication with a variety of institutions.
Foxtel CEO Kim Williams said the platform aims to upgrade its service from analog to digital, ushering in near-VOD and other interactive services, around March.
Foxtel must get approval from the Australian Competition and Consumer Commission to set access prices for third-party channel providers.
It has been waiting for the ACCC's verdict for 11 months, and Williams said he's confident it will soon be approved.
