Foxtel’s cable business has been “Netflixed” by the tsunami of streamers and having demurred from a deal in 2020, News Corporation can’t afford to knock back suitors this time around.
The Murdoch family should send Christmas cards to the 1.2 million Australians who still pay an average of $90 per month to get Foxtel’s broadcast product . These customers could be the key to delivering gold to the media mogul and Telstra.
As a product, Foxtel’s cable business just doesn’t have a lot to offer. The only paying customer I found to vox pop declared that their loyalty to the Foxtel set-top was owed to an addiction to the National Geographic Channel and reruns of The Beverly Hillbillies. And then there is Foxtel’s debt, which according to News Corp’s most recent annual report sits at around $1.8 billion, inclusive of loans from News Corp and a smaller loan from Telstra. This could potentially wipe out all the equity in Foxtel, in which case the sale price could be a nominal amount.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why this could be Murdoch’s last chance to sell FoxtelFoxtel’s cable business has been “Netflixed” by the tsunami of streamers and having demurred from a deal in 2020, News Corporation can’t afford to knock back suitors this time around.
Read more »
Rupert, Lachlan and me: inside the Murdochs’ ‘medieval fiefdom’Eric Beecher says he was ‘shocked’ by what he discovered during his time as editor in chief of News Corp’s Melbourne newspapers
Read more »
NWS ASX: News Corp puts Foxtel up for sale after reviewing its assetsThe publishing and broadcasting multinational said there was acquisition interest in its pay television arm after a year-long “strategic review” of its assets.
Read more »
News Corp eyes Foxtel saleAustralia’s storied Pay TV operator and Kayo and Binge owner Foxtel is up for sale, News Corp’s global chief executive has revealed in an investor call, following third-party interest and a strategic review.
Read more »
News Corp eyes Foxtel saleAustralia’s storied Pay TV operator and Kayo and Binge owner Foxtel is up for sale, News Corp’s global chief executive has revealed in an investor call, following third-party interest and a strategic review.
Read more »
News Corp puts Foxtel up for saleAustralia’s storied Pay TV operator and Kayo and Binge owner Foxtel is up for sale, News Corp’s global chief executive has revealed in an investor call, following third-party interest and a strategic review.
Read more »