News Corp global revenues increase thanks to Foxtel consolidation

May 10, 2019 10:08

News Corp has reported revenues of US$2.46bn in the third quarter of financial year 2019, a 17% increase on the year prior.

The company is reporting the growth is partially thanks to the consolidation of Foxtel and Fox Sports. In 2018 it was announced that Foxtel and Fox Sports would be merged. Prior to that, News Corp owned 100% of Fox Sports and had a 50% in Foxtel as a joint venture with Telstra.

Under the new deal, News Corp owns 65% of the consolidated business with Telstra holding 35%.

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Hannah Blackiston

Hannah Blackiston was the deputy editor of Mumbrella. She worked with the company from March 2019 to November 2020.

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1 COMMENTS

Business As Usual 10 May 19

Please highlight the tax in addition to revenue for news & other company reporting.

Fin Review May 10, 2019

“So how much tax does News Corp Australia pay?….”

“…..Once we weed through all that we’re left with core operations for 2018. Removing all those settlements and subsidiary businesses, you end up with Rupert’s favourite number. That is zero, of course.”

https://www.afr.com/rear-window/is-news-corp-still-paying-zero-tax-20190509-p51lqe

https://www.michaelwest.com.au/rupert-murdochs-us-empire-siphons-4-5b-from-australian-business-virtually-tax-free/

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