The Australian Competition and Consumer Commission (ACCC) has deferred its decision regarding Foxtel's acquisition of Austar, but Austar will go ahead with its planned shareholder meeting on Friday.
In a statement Austar said: “In order to avoid further inconvenience to shareholders, Austar intends to proceed with the planned shareholder meetings on 30 March, but defer the second court hearing.”
The second court hearing has been delayed until 13 April.
The delay has followed protests from Telstra competitors, heavily led by Optus and iiNet, that the merger would give Telstra an unfair competitive advantage, particularly in the new IPTV field.
Foxtel is 50% owned by Tesltra, 25% by Consolidated Media Holdings, and 25% by News Limited.
Reacting to the ACCC's delayed decision, Foxtel's chief executive Richard Freudenstein said: “Foxtel continues to work constructively with the ACCC in relation to the proposed Foxtel/Austar merger and related undertakings that Foxtel has offered to the ACCC."
Both Foxtel and Austar remain confident about a positive outcome for the merger.
The final outcome remains conditional on the subsequent decision by the ACCC and approval by the Federal Court.
Follow @AdNews on Twitter for breaking stories and campaigns throughout the day.
Have something to say? Send us your comments using the form below or contact the writer at erinsmith@yaffa.com.au
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.