Austar United Communications Ltd. (AUN.AU) said Wednesday Australia's Foreign Investment Review Board has extended its review period of a A$2 billion takeover bid by fellow pay television operator Foxtel by 90 days.

Austar said in a statement FIRB is deferring its decision until the Australian Competition and Consumer Commission has finished its assessment of the deal.

"Austar remains committed to bringing the transaction with Foxtel to a successful close as soon as possible," Austar said.

Foxtel is 50%-owned by Telstra Corp. (TLS), while News Corp. (NWS) and Consolidated Media Holding Ltd. (CMJ.AU) each have a 25% stake. News Corp. owns Dow Jones Newswires and The Wall Street Journal.

-By Gavin Lower, Dow Jones Newswires; 61-3-9292-2095; gavin.lower@dowjones.com

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