Telstra is now the majority shareholder of Fetch TV, with its acquisition of 51.4 per cent cleared by the regulators.
The ACCC said last month it would not oppose the acquisition.
“With Telstra on board, Fetch is now well placed to deliver a genuinely competitive Australian home and entertainment solution with the scale to enable us to partner with global content and streaming providers,” said Fetch TV CEO Scott Lorson.
“This investment will mean better commercial outcomes for the Australian streaming sector, exciting product development for our Telco and Retail partners, and a dynamically evolving best in class aggregated viewing experience for our customers.”
Telstra’s executive of product and technology, Kim Krogh Andersen said the acquisition of Fetch gives Telstra the opportunity to evolve its Telstra TV offering, which currently has over 800,000 active users.
“We are also excited by the Fetch product roadmap and in-house capability and the opportunity to leverage additional investment and scale to accelerate innovation,” Andersen said.
Telstra will focus on expanding the content proposition, introducing new functionality, and expanding hardware options, including Smart TVs.”
