Foxtel has bought out Seven’s shares in Australian SVOD service Presto
• Foxtel closing down Presto on January 31, 2017 moving customers to Foxtel Play
• Seven sell Presto share to Foxtel ahead of closure, will continue sell content to Foxtel
Foxtel and Seven West Media have announced that Foxtel will acquire Seven West Media’s interest in the Presto TV joint venture.
Tim Worner, CEO and managing director, Seven West Media, said: “We look forward to continuing to work closely with Foxtel, in particular in the creation of new programming content.”
Peter Tonagh, Foxtel CEO, said “It has been great working with the team at Seven on Presto and we look forward to future collaborations. We are delighted to be able to offer Presto subscribers access to the new look Foxtel Play, which we know will be highly attractive to them.”
From December 2016, Presto customers will be able to access the new Foxtel Play product.
Presto will cease on 31 January 2017.
Presto and Foxtel Play subscribers will have exclusive Australian access to two new Home and Away specials to be released this summer. The production of these Home and Away specials underlines the ongoing partnership between Foxtel and Seven West Media on content production for new consumer services.