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Foxtel aiming for 'fundamental reset' on sports rights

Max Mason

News Corp chief executive Robert Thomson says Foxtel is working to push down broadcast rights costs with the NRL and AFL as the pay-TV giant and free-to-air broadcasters Nine and Seven West Media seek lower fees for a shortened season and sustainable future costs.

It comes after News Corp booked $US931 million ($1.4 billion) in impairments at Foxtel, including a write-down of almost $860 million to the value of the pay-TV giant.

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Max Mason covers financial crime, courts and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com

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    Original URL: https://www.afr.com/companies/media-and-marketing/foxtel-aiming-for-fundamental-reset-on-sports-rights-amid-covid-19-20200508-p54r0o