News Corp Weighs Sale of Australian Pay-TV Giant Foxtel

Rupert Murdoch's News Corp considers divesting its majority stake in Foxtel amid external interest and a competitive streaming landscape.

Foxtel, a significant player in Australian media, has over 4 million subscribers across its services.
News Corp's CEO called the external interest a 'vote of confidence' in Foxtel's management.
Foxtel's traditional pay-TV service has been losing subscribers to cheaper streaming alternatives like Netflix and Disney+.
The potential sale could fetch over $1 billion, with Telstra holding a minority stake in the company.
News Corp's overall profit rose 11% in the recent quarter, driven by its real estate and publishing businesses.