Hills Holdings signs 4 year Foxtel deal

Company News

Hills Holdings Limited (ASX:HIL) has re-signed a deal with Foxtel to provide the pay TV provider with satellite dishes over the next four years.

The company, better known for manufacturing the iconic Hills hoist clothesline, will supply Foxtel with satellite dishes manufactured from its factory in Adelaide.

While the terms of the contract remain confidential the value is understood to be dependent on the amount of new customers that join Foxtel.

After a recent rebalance, Hills Holdings will be back in the S&P/ASX 200 index from this Friday.

Foxtel is 50 per cent owned by Telstra Corporation Limited (ASX:TLS) with the remaining 50 per cent stake split between News Corporation (ASX:NWS) and Consolidated Media Holdings Limited (ASX:CMJ).

In the 2011 financial year Hills Holdings booked a net loss of $73 million.

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