News Corp Seals $2.1 Billion Australia Pay TV Deal
Posted: 10/31/2012  |  By: Victoria Thieberger | Reuters
MELBOURNE, Oct 31 (Reuters) - Rupert Murdoch's News Corp boosted its share of Australia's pay-TV market after shareholders in Consolidated Media Holdings Ltd voted in favour of a A$2 billion ($2.1 billion) takeover offer from News.

The deal will double the stake of News Corp's Australian arm in dominant pay-TV operator Foxtel to 50 percent and give it 100 percent of content provider Fox Sports, increasing its pay-TV exposure at the same time as it cuts costs at its print operations.