Foxtel’s cable business has been ‘Netflixed’ by the tsunami of streamers, and having demurred from a deal in 2020, News Corporation can’t afford to knock back suitors this time around.
www.smh.com.au
Per SMH, the average set-top box subscriber is paying Foxtel $90/month. I assume any Netflix subscription, etc, would be on top of that.
They figure the amount paid will be nominal because of the debt that Foxtel holds, paying interest back to News Corp and Telstra.
And the likely buyer is a US-based PE firm, who have history in rummaging the bargain bin for unloved assets - they previously bought Sensis from Telstra (remember that name?).