News Corp, Telstra Corp to merge Foxtel into FOX SPORTS Australia
August 17 2017 - 5:50AM
Dow Jones News
By Rory Gallivan
LONDON--News Corp (NWSA) and Telstra Corp Ltd (TLS.AU) announced
plans to merge their jointly owned pay television company Foxtel
into News Corp's FOX SPORTS Australia to create a large Australian
sports and entertainment company.
The merger will result in News Corp owning a 65% stake in the
new company, with Telstra owning 35%.
The merger will position the new company for a future stock
market flotation, News Corp and Telstra said.
News Corp is the parent company of The Wall Street Journal and
Dow Jones Newswires.
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
(END) Dow Jones Newswires
August 17, 2017 06:35 ET (10:35 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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