News Corp posts US$1.13bn loss, citing Foxtel as main cause
News Corp polished off the third quarter of the financial year with a US$1.13bn loss, attributing the majority to write-downs for the Foxtel and Fox Sports merger in Australia.
The losses included US$998m in non-cash write-downs related to the merger.
Robert Thomson welcomed Foxtel to the ‘corporate’ family overnight
Rupert will soon be on the phone to Scott Morrison for more free money
With write downs like that, they won’t have to pay corporate tax. Lucky them.
Ha-ha.
Is it any wonder there are for sale signs outside our Mooneeponds building this past fortnight and that another internal review taking place on more restructuring and getting “match fit”
If you put some blame on Foxtel, think about this. The mighty Yellow Pages was too slow to innovate and yielded to the search engine we all hate but use. Taxis are getting a well deserved shake up by Super. Will Foxtel go down in history in this category?
This is what happens when one stops going out for Chinese
There is a big difference between making a $1.13b loss and booking one for tax purposes by writing off assets to the tune of $998m.
That is, 90% of the loss was made as boardroom decisions. I bet they don’t look for any savings there.
Terrible result that matches the terrible service given to customers….a business with no ethics, run by bullies and yes men. How can the Australia Government justify free money given to such a business….no jobs in Australia (except for overpaid yes men), ridiculous fees charged to customers for very poor service. The ABC gets funding cut and Foxtel gets a handout…how is that possible? I hope the current Govt and Foxtel go down the same rabbit hole and a new Govt can reinforce anti siphoning laws to keep sports free for all Australians