Edition:
India

Telstra Corporation says Foxtel, Fox Sports Australia to combine


Thursday, 17 Aug 2017 

Aug 17 (Reuters) - Telstra Corporation Ltd ::Foxtel, Fox Sports Australia to combine.News Corp will have 65 per cent shareholding in new company and Telstra will have 35 per cent.Telstra and News Corp today announced their intention to combine Foxtel and Fox Sports Australia into a new company.News Corp will appoint chairman, majority of new company's board and senior executives and Telstra will appoint remaining directors.If deal between Telstra and News Corp is concluded on proposed terms, News Corp expects to consolidate new co into its financial statements.