News Corp Sizing Up Sale Of Australian Pay-TV Giant Foxtel Group
deadline.comRupert Murdoch’s News Corp could sell its Australian pay-TV operator Foxtel Group. At the end of a commentary for what News Corp CEO Robert Thompson called an “outstanding” year financially for Murdoch’s news operation was the reveal there had been outside interest in Foxtel, which has more than four million subscribers in Australia overall and owns the likes of Colin From Accounts streamer Binge.
Thompson said a review of the News Corp business had “coincided recently with third-party interest in a potential transaction involving the Foxtel Group, which has been positively transformed in recent years.
We are evaluating options for the business with our advisors in light of that external interest.” He later called the approach a “vote of confidence” in Foxtel’s management.
Foxtel has been a dominant presence in Australian media for decades, but has come under pressure from the likes of Netflix, Prime Video, Stan and Disney+ in a very competitive local streaming market, as the number of traditional pay-TV boxset subs continues to fall.
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