News Corp.

Rupert Murdoch to step down as chairman at Fox & News Corp, with son Lachlan succeed

Fox Corporation and News Corp chairman Rupert Murdoch is to step down from his roles at both companies. Murdoch, who is 92, will step back from day-to-day oversight to become chairman emeritus, handing control to his eldest son Lachlan Murdoch, who becomes chairman of News Corp and exec chair & CEO at Fox. The elder […]

Rupert Murdoch shelves proposed Fox Corp & News Corp merger

Media mogul Rupert Murdoch has shelved a proposal to merge Fox Corp and News Corp, having concluded that such a move is “not optimal” for shareholders. Murdoch and his son Lachlan Murdoch, CEO of Fox Corp, first raised the prospect of bringing the two companies together last October. But some major shareholders were not convinced […]

Rupert Murdoch’s Fox Corp & News Corp explore potential merger

Rupert Murdoch has started proceedings that could see Fox Corp and News Corp join forces, reversing a decade-old split. Murdoch’s family owns almost 40% of voting shares in News Corp and around 42% of shares in Fox Corp, with both companies confirming on Friday that a “special committee” had been formed to explore a potential […]

Foxtel names new CEO ahead of merger

Fox Sport Australia’s CEO, Patrick Delany, will become chief to the newly merged Foxtel and Fox Sports, once its finalised in upcoming months. Peter Tonagh, Australian pay TV giant Foxtel’s incumbent chief executive, will depart the company after two years in the role. News Corp is part owner of Foxtel, with Telstra, and owns Fox […]

Foxtel merging with Fox Sports in Australia

Australia’s leading pay TV platform, Foxtel, is merging with its News Corp cousin Fox Sports Australia to create a new regional powerhouse. The move will see Rupert Murdoch’s News Corp becoming 65% majority shareholder of the new business, with Australia telecommunications business retaining the other 35%. A plan to float of the Australia stock exchange […]

Presto closure costs Foxtel $21m

Folding SVOD service Presto into Foxtel’s existing subscription on-demand service has cost the Australian pay TV operator US$21 million, numbers released this week reveal. Foxtel’s net income for the three months to September 31 fell from US$42 million last year to US$16 million, primarily due to the decision to close Presto in January 2017. “Equity […]

Report: Seven to exit SVOD joint venture

Seven West Media is set to pull out of its joint venture subscription video-on-demand platform Presto, according to local reports. Rather than agreeing a full financial year agreement for the service with JV partner Foxtel, Seven Network’s parent reportedly has opted for a six month budget. The Australian reports Presto is under “extreme pressure” from […]

Freudenstein exits Foxtel

Rumours Richard Freudenstein would leave his post as CEO of Australian pay TV giant Foxtel have been confirmed with the news he is exiting “to pursue other interests”. News Corp Australia CEO Peter Tonagh, who was previously Foxtel’s CFO and COO for nine years, will succeed Freudenstein as chief executive. Freudenstein’s departure has been expected […]

Presto, Telstra get new chiefs

Australian telco Telstra has hired a new boss for its media content arm, while Foxtel-affiliated SVOD service Presto Entertainment has a new CEO. Telstra, which owns local pay TV leader Foxtel along with News Corp, has appointed Optus executive as executive director for Telstra Media. This comes after Telstra’s CMO, Joe Pollard, restructured the firm’s […]

Telstra ‘weighing Foxtel stake sale’

Australian telco Telstra is reportedly considering selling its 50% stake in local pay TV market leader Foxtel. The Australian Financial Review reports Telstra would be willing to shed its stake at the right price, concerned by new competitors such as Netflix offering content at lower rates. Its joint venture partner, News Corp, is believed to […]

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