Baker McKenzie acted for Astro (the Malaysian satellite television and IPTV provider) on its proposed sale to Telstra Corporation of 51% of the Fetch TV Group for A$50 million.
Fetch TV is a subscription video service which provides premium channels, streaming apps, and movies to its 670,000 subscribers.
Fetch TV chief executive Scott Lorson said “We have worked with Baker McKenzie since our inception in 2009 and have been impressed with their ability to navigate the complexities of this transaction to deliver a very positive outcome. This investment from Telstra will allow Fetch TV to accelerate growth and deliver a genuinely competitive Australian home and entertainment solution.”
Baker McKenzie lead transaction partner, Kate Jefferson commented: “We were delighted to be able to assist our client reach this significant transaction milestone and look forward to assisting with completion of the sale process (subject to ACCC approval) over the coming months."
Chair of the Australian Office Adrian Lawrence who heads the Firm's Asia Pacific Technology, Media and Telecommunications Group added: “It has been an absolute privilege to have had the chance to be involved with the Fetch management team as they pursue their growth strategy and explore partnerships with global content providers.”