"News Corp. (NWS) is set to increase its presence in Australia's subscription-television market after Consolidated Media Holdings Ltd. (CMJ.AU) shareholders approved its 1.94 billion Australian dollar (US$2.01 billion) bid for the company. The deal will see News Corp., owner of The Wall Street Journal, double its stake in Australian subscription-TV provider Foxtel to 50%, and gain full ownership of sports-channel Fox Sports. Australia's largest telephone company Telstra Corp. (TLS.AU) owns the remaining 50% of Foxtel." (Quoted from article)