Austar delays Foxtel meeting

Company News

Austar United Communications Limited (ASX:AUN) is seeking court approval to postpone a meeting of its shareholders relating to its proposed takeover of Foxtel, until the end of March.
 
Austar says this is so that the Australian Competition and Consumer Commission (ACCC) can finalise its review of the transaction.
 
Chief executive John Porter says Austar is confident of bringing the transaction to a successful close.
 
Austar reported a net profit of $88.7million in the first half of fiscal 2011.