Original article by Elizabeth Knight
The Sydney Morning Herald – Page: Online : 13-Aug-24

Foxtel had been estimated to be worth between $1.2bn and $2bn when an IPO was being considered in 2021. However, an IPO now appears to be highly unlikely, and selling Foxtel may be the best option for News Corp and Telstra. Foxtel’s traditional pay-TV business now boasts about 1.2 million subscribers, well below the peak of 2.9 million in 2015; retaining as many of these customers as possible could be crucial to getting a decent price for Foxtel, given that they pay an average of $90 per month. Foxtel’s own streaming services Kayo and Binge have much lower monthly revenue per customer, and their subscriber growth is also slowing amid growing competition in the streaming sector.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, KAYO SPORTS, BINGE