Rupert Murdoch’s News Corp is considering the sale of its Australian pay-TV business Foxtel, having already received at least one approach.
The company runs a cable TV business and a number of streaming operations including sports streamer Kayo, entertainment streaming platform Binge, recently launch, the OTT streaming aggregator Hubbl.
The possibility of a sale emerged as part of a review of the company’s assets.
“That review has coincided recently with third-party interest in a potential transaction involving the Foxtel Group, which has been positively transformed in recent years,” News Corp chief executive, Robert Thomson said as part of the company’s earnings release.
“We are evaluating options for the business with our advisors in light of that external interest,” he said.
While a key player in the Australian media scene, Foxtel has come under pressure from streaming businesses that are able to operate under low margins.
