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Hot Topic Hawke’s Bay
Investment
2 mins to read

News Corp looks to sell Foxtel pay TV

Full-year results show real estate revenues are strong, Pay TV has plateaued, while the company is putting its faith in a deal with OpenAI.

Rupert and Lachlan Murdoch. News has restructured its media operations in Australia, and is now mulling a sale of Foxtel.

Lachlan Colquhoun Fri, 09 Aug 2024
Key points
  • Revenue: Full-year up 2% to US$10b
  • Profit: Earnings before interest, taxes, depreciation, and amortisation up 8% to US$1.54b, net income up 89% to US$354m.
  • Main takeaway: With signs of the business plateauing, News is pondering third party offers for its Foxtel Pay TV venture in Australia with Telstra.

Media giant News Corp is fielding “third party interest” for its pay television and streaming business Foxtel, which has been a longstanding joint venture in Australia with Telstra.

[image src="https://d2xgqyuql1olth.cloudfront.net/assets/Robert-Thomson-NewsCorp-LinkedIn-square-BW-web.gif" id="105755" width="400" height="400"

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Lachlan Colquhoun Fri, 09 Aug 2024
Contact the Writer: lachlan@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
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Key points
  • Revenue: Full-year up 2% to US$10b
  • Profit: Earnings before interest, taxes, depreciation, and amortisation up 8% to US$1.54b, net income up 89% to US$354m.
  • Main takeaway: With signs of the business plateauing, News is pondering third party offers for its Foxtel Pay TV venture in Australia with Telstra.
Company profile
Powered by: asx logo
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Related News
Australia

Australia’s film and TV industry in purgatory

Investment

Sport streaming customers up, Neon and box customers down at Sky
The Flip Side
7

Murdoch the main beneficiary of Australia’s Google stoush

5

Confirmed: Murdoch sells 44% Sky TV stake for $815.3M in discounted placement
News Corp looks to sell Foxtel pay TV
Investment,
105266
true
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