News Corp Offloads Foxtel Subscription TV and Streaming Service
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News Corp (NWSA) and Telstra have agreed to sell their interest in Foxtel to DAZN Group for $2.12 billion. This move could positively impact News Corp's stock as it divests from the subscription TV and streaming service.
December 23, 2024 | 4:30 pm
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POSITIVE IMPACT
News Corp has agreed to sell its interest in Foxtel to DAZN Group for $2.12 billion. This divestment could positively impact News Corp's stock as it focuses on core operations.
The sale of Foxtel allows News Corp to divest from a non-core asset, potentially improving its financial position and allowing it to focus on its main business areas. This strategic move is likely to be viewed positively by investors, leading to a potential short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90