Analysis
News Corp finally confronts the grim reality of Foxtel
After nearly 30 years as a shareholder, the media giant has gone public with a bid to offload the pay TV business. Any new owner will confront big challenges.
Sam Buckingham-JonesMedia and marketing reporterNews Corp has repeatedly tried and failed to float Foxtel. Now the Murdoch family-controlled media giant will try to sell its long-held local pay TV platform.
Its 65 per cent stake in the pay TV business has weighed on its balance sheet, a flat cable arm languishing as investors saw value in the rapidly growing Dow Jones (owner of The Wall Street Journal) and real estate services REA Group and Move.
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