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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.

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
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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.
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News Corp looks to sell Foxtel pay TV
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