Foxtel CEO Says IPO Up to Owners of Australian Pay-TV Provider
30 9월 2021 - 11:30AM
Dow Jones News
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.
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