Media & Broadcast 1 min read

News Corp Explores Potential Sale of Foxtel Amid Industry Shifts

Written by MOS Editorial Team

Published on 15 August 2024

News Corp has put it’s 65% stake in Foxtel up for sale, as the company adapts to the growing dominance of streaming services. The remaining 35% is held by Telstra, and any sale would include the widely popular sports streaming platform Kayo and entertainment service Binge. With the media landscape shifting rapidly, Foxtel has faced increased competition from global streaming players like Netflix and local sports platforms such as Optus Sport and Stan Sport. The sale could attract a wide range of bidders, including private equity firms and international media companies looking to expand their reach in the Australian market.

Foxtel’s focus on live sports, particularly through its sports streaming service Kayo, has been a strong driver of subscriber growth. However, the shifting dynamics of sports broadcasting rights and increasing competition from services like Optus Sport and Stan Sport are forcing Foxtel to re-evaluate its business model. The sale could have significant implications for the Australian sports industry, particularly in terms of broadcast rights and how fans consume sports content in the future.

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