News Corp considers selling Australia pay TV and streaming unit

Quick Summary:

SYDNEY :Rupert Murdoch's News Corp said it may sell Australian cable TV and streaming unit Foxtel after receiving an approach, a deal that would end its involvement in a high-overhead asset that has struggled to adapt to the Netflix era.

That has offset a decline in higher-paying traditional subscriber numbers but not in subscriber revenue, which was up 1 per cent in the June quarter.

"Investors are getting frustrated how long it's taking to make a formal announcement about the company getting simplified, but while that process is going on, the financials continue to come in well with both revenue and margins better than expected," said Craig Huber, analyst at Huber Research Partners.

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Article Details

Category: EconomyBusiness

Markets: SingaporeAustralia

Topics: Deal Corp Australian News Murdoch Foxtel Business Streaming Cent Profit Netflix

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-09 @ 06:49:13 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 446 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 21994061

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 58 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 5 hours ago

Coverage Areas: Singapore

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News Language: English

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Publisher ID: #27

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