Financial maneuvers show Foxtel’s machinations as News eyes sale

Foxtel spent at least $79 million launching its new Hubbl TV platform, while its majority owner News Corp Australia suffered a 9 per cent drop in advertising revenue, accounts for the two biggest companies reveal media outlets controlled by the Murdoch family in Australia.

Documents filed with the corporate regulator reveal there has also been a shake-up over which News Corp entity owns its 65 per cent stake in Foxtel. Foxtel owns a cable TV business, streaming platforms Kayo Sports, Binge and Foxtel Now, as well as Hubbl. Telstra owns the remaining 35 per cent.

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