Trade Now

Capital at risk Advertisement
Share Name Share Symbol Market Type
Telstra Corporation Limited ASX:TLS Australian Stock Exchange Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.015 -0.4% 3.745 3.74 3.75 3.78 3.73 3.77 9,857,753 05:11:00

Foxtel CEO Says IPO Up to Owners of Australian Pay-TV Provider

30/09/2021 3:30am

Dow Jones News


Telstra (ASX:TLS)
Historical Stock Chart


From Sep 2021 to Sep 2022

Click Here for more Telstra Charts.
   By Stuart Condie 
 

SYDNEY--Australian pay-TV provider Foxtel's future ownership is a matter for co-owners News Corp. and Telstra Corp. Ltd., Chief Executive Patrick Delaney said.

Analysts have speculated that Foxtel's owners could list the company on the Australian Securities Exchange, but Mr. Delaney on Thursday said any plans were beyond his remit.

"An IPO is a matter for the shareholders. The mission I've been given is to make sure the investment community, the people who invest in our shareholders, understand the value that we have delivered and the transformation journey we are on," Mr. Delaney said during a Foxtel strategy day.

Foxtel is pivoting from traditional cable TV to a less capital-intensive streaming model amid competition from the likes of Netflix Inc. and Walt Disney Co. The company said it is targeting a capex-to-revenue ratio of 4% within three years, down from 7% in the 2021 fiscal year.

News Corp. also owns Dow Jones & Co., publisher of The Wall Street Journal.

 

Write to Stuart Condie at stuart.condie@wsj.com

 

(END) Dow Jones Newswires

September 29, 2021 22:15 ET (02:15 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

1 Year Telstra Chart

1 Year Telstra Chart

1 Month Telstra Chart

1 Month Telstra Chart
ADVFN Advertorial
Your Recent History
ASX
TLS
Telstra
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20220927 04:31:11