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Singtel Optus, Foxtel extend satellite services contract to 2031
SINGAPORE Telecommunications' (Singtel) wholly-owned Australian subsidiary Optus on Monday extended its contract with Australian media company Foxtel for the provision of satellite services until 2031.
The financial terms are confidential, Optus said in a bourse filing.
Optus has partnered Foxtel since 1998 to deliver the latter's premium live sports, movies, drama, news and entertainment content – including Australia's only dedicated, live 4K broadcast channel – to both regional and metropolitan areas across the nation, via its two Optus satellites in orbit over the country.
"The contract extension, along with efficiencies agreed with Foxtel, reaffirms Optus Satellite's leading position in the ANZ (Australia and New Zealand) satellite market," Optus said. Optus Satellite is Optus's satellite division.
Ben White, Optus managing director, wholesale, satellite and strategy, said the collaboration "provides resilience for existing services and an opportunity for future expansion as Australians continue to embrace 4K viewing and see 8K video on the horizon".
He added: "This commitment provides Foxtel a proven and reliable platform for the delivery of high-quality video images, watched on large screens in homes and other venues, over the next 11 years."
Optus Satellite owns and operates Australia's and New Zealand's largest fleet of spacecraft, with five satellites currently in geostationary orbit to service its broadcast, corporate, and government customers.
Earlier this month, it confirmed a contract for a new satellite to be deployed for Australia and New Zealand in 2023, at the current Optus D1 orbital location.
Pay-television broadcaster Sky New Zealand will be the cornerstone customer for the new satellite, Optus said then.
Shares of Singtel ended Friday at S$2.48, down S$0.03 or 1.2 per cent.