You will be redirected back to your article in seconds

Foxtel finds bankroll for digital bow

Platform secures loans for VOD, interactive services

SYDNEY — Australia’s dominant pay TV platform Foxtel on Monday nailed down a $A550 million ($385 million) credit facility to bankroll its digital launch in early 2004.

The financing took months to conclude because Foxtel wanted to secure the loans, rather than raising the cash through its shareholders News Corp., Publishing & Broadcasting and Telstra.

Commonwealth Bank and ABN Amro will act as lead arrangers, handling syndication with a variety of institutions.

Foxtel CEO Kim Williams said the platform aims to upgrade its service from analog to digital, ushering in near-VOD and other interactive services, around March.

Foxtel must get approval from the Australian Competition and Consumer Commission to set access prices for third-party channel providers.

It has been waiting for the ACCC’s verdict for 11 months, and Williams said he’s confident it will soon be approved.

More Digital

  • 'Star Trek: Discovery': James Frain on

    'Star Trek: Discovery': James Frain on Sarek's 'Sophie's Choice'

    SYDNEY — Australia’s dominant pay TV platform Foxtel on Monday nailed down a $A550 million ($385 million) credit facility to bankroll its digital launch in early 2004. The financing took months to conclude because Foxtel wanted to secure the loans, rather than raising the cash through its shareholders News Corp., Publishing & Broadcasting and Telstra. […]

  • Nash Grier

    Nash Grier Locked Out of YouTube Account

    SYDNEY — Australia’s dominant pay TV platform Foxtel on Monday nailed down a $A550 million ($385 million) credit facility to bankroll its digital launch in early 2004. The financing took months to conclude because Foxtel wanted to secure the loans, rather than raising the cash through its shareholders News Corp., Publishing & Broadcasting and Telstra. […]

  • Netflix phone

    Subscription Video Services Lift Global App Spending

    SYDNEY — Australia’s dominant pay TV platform Foxtel on Monday nailed down a $A550 million ($385 million) credit facility to bankroll its digital launch in early 2004. The financing took months to conclude because Foxtel wanted to secure the loans, rather than raising the cash through its shareholders News Corp., Publishing & Broadcasting and Telstra. […]

  • Jack Etienne - Cloud9

    Esports Startup Cloud9 Raises $25 Million From WWE, Others

    SYDNEY — Australia’s dominant pay TV platform Foxtel on Monday nailed down a $A550 million ($385 million) credit facility to bankroll its digital launch in early 2004. The financing took months to conclude because Foxtel wanted to secure the loans, rather than raising the cash through its shareholders News Corp., Publishing & Broadcasting and Telstra. […]

  • snapchat-spectacles-snap-teal

    Snap May Have Hundreds of Thousands of Unsold Spectacles (Report)

    SYDNEY — Australia’s dominant pay TV platform Foxtel on Monday nailed down a $A550 million ($385 million) credit facility to bankroll its digital launch in early 2004. The financing took months to conclude because Foxtel wanted to secure the loans, rather than raising the cash through its shareholders News Corp., Publishing & Broadcasting and Telstra. […]

  • "Context Is for Kings" -- Episode

    CBS All Access Suffers Streaming Glitches in Middle of 'Star Trek: Discovery'

    SYDNEY — Australia’s dominant pay TV platform Foxtel on Monday nailed down a $A550 million ($385 million) credit facility to bankroll its digital launch in early 2004. The financing took months to conclude because Foxtel wanted to secure the loans, rather than raising the cash through its shareholders News Corp., Publishing & Broadcasting and Telstra. […]

  • DSCF3404.raf

    Netflix to Raise $1.6 Billion More Debt Financing to Fuel Content-Buying Binge

    SYDNEY — Australia’s dominant pay TV platform Foxtel on Monday nailed down a $A550 million ($385 million) credit facility to bankroll its digital launch in early 2004. The financing took months to conclude because Foxtel wanted to secure the loans, rather than raising the cash through its shareholders News Corp., Publishing & Broadcasting and Telstra. […]

More From Our Brands

Access exclusive content