Foxtel on the block as News Corp confronts reality

Rupert Murdoch’s News Corp has put Australian media company Foxtel up for sale as the global publishing and broadcast giant confronts the reality that streaming is rapidly bringing the era of pay TV dominance to an end.

On Friday, News Corp flagged “third-party interest” in the group, in which it owns 65 per cent, and brokers point to Platinum Equity, a major LA-based investment firm, as a likely buyer.