Foxtel’s merger with Fox Sports

Allens has advised News Corp on the merger between Foxtel and Fox Sports, finalised in a definitive agreement signed on 6 March.

News Corp, which currently owns 100 per cent of Fox Sports and 50 per cent of Foxtel, will hold 65 per cent of the merged entity under the deal. Telstra, currently 50 per cent owner of Foxtel, will hold the remaining 35 per cent.

News Corp will appoint four directors (including the chairman) to the combined entity’s board, with Telstra appointing the remaining two.

News Corporation is a media and information services company. The company, led by Keith Rupert Murdoch, Robert James Thomson and Susan Lee Panuccio, in 2017 recorded $8.139 Billion Revenues.

Allens has advised News Corp with a team including Kylie Brown (Picture – Partner, Corporate), Jacqueline Downes (Lead Partner, Competition), Chelsey Drake (Partner, Corporate), Lizzie Fuller (Senior Associate, Corporate), Chris Travers (Senior Associate, Corporate), Amanda Richman (Senior Associate, Competition), Gillian Hayden (Associate, Corporate) and Jack Ducommun (Associate, Competition)

 

Involved fees earner: Kylie Brown – Allens; Chelsey Drake – Allens; Lizzie Fuller – Allens; Chris Travers – Allens; Jacqueline Downes – Allens; Amanda Richman – Allens;

Law Firms: Allens;

Clients: News Corp;

 

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Author: Michael Patrini