The account tidying is well underway at Foxtel with the repayment of a near AU$1 billion dollar shareholder loan ahead of the takeover of Fox Sports and purchase of 15% of the pay TV business from shareholder Telstra by the Murdoch family’s News Corp.

The latest quarterly and half-year filing with the SEC by News reveals that the AU$988 million shareholder loan to Foxtel by News and Telstra has been restructured and settled, and not a dollar changes hands. That loan was part of the takeover of regional pay TV business Austar back in 2012 (which gave Foxtel a pay TV monopoly in this country, courtesy of the ACCC).