- Telstra (OTCPK:TLSYY) and News Corp (NWS, NWSA) have sealed the deal to combine Foxtel and Fox Sports Australia.
- The two had planned the merger for some time, and Australian regulators dropped their opposition in early December.
- News Corp. owns Fox Sports Australia and is a joint owner of Foxtel along with Telstra. The new deal means News Corp. will hold 65% of the combination and Telstra 35%.
- Telstra will take a one-time gain of about A$263M ($204M) from the transaction.
Fox Sports Australia, Foxtel set combination in motion
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| Symbol | Last Price | % Chg |
|---|---|---|
| TLGPY | - | - |
| Telstra Group Limited | ||