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NEWS CORPORATION

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

09/29/2021 | 08:15pm EST

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

09-29-21 2215ET

Stocks mentioned in the article
ChangeLast1st jan.
NEWS CORPORATION 0.60% 21.89 Delayed Quote.21.81%
TELOS CORPORATION 4.06% 16.16 Delayed Quote.-51.00%
TELSTRA CORPORATION LIMITED -0.25% 4.01 End-of-day quote.34.56%
All news about NEWS CORPORATION
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More news
Analyst Recommendations on NEWS CORPORATION
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Financials (USD)
Sales 2022 10 132 M - -
Net income 2022 471 M - -
Net cash 2022 568 M - -
P/E ratio 2022 28,1x
Yield 2022 0,91%
Capitalization 11 902 M 11 902 M -
EV / Sales 2022 1,12x
EV / Sales 2023 1,02x
Nbr of Employees 24 000
Free-Float 73,2%
Chart NEWS CORPORATION
Duration : Period :
News Corporation Technical Analysis Chart | NWSA | US65249B1098 | MarketScreener
Technical analysis trends NEWS CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 8
Last Close Price 21,89 $
Average target price 30,13 $
Spread / Average Target 37,6%
EPS Revisions
Managers and Directors
Robert James Thomson Chief Executive Officer & Director
Susan Lee Panuccio Chief Financial Officer
Lachlan Keith Murdoch Co-Chairman
Keith Rupert Murdoch Executive Co-Chairman
David Kline Chief Technology Officer & Executive VP
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