Foxtel’s got 99 problems. But its $US784 million ($1.17 billion) debt load ain’t one.
Street Talk can reveal Goldman Sachs, tasked with selling New Corp’s 65 per cent stake in Foxtel, has begun mailing out non-disclosure agreements to prospective suitors. Where it gets interesting is this – the suitors in question aren’t traditional private equity firms or trade players like the $US154 billion NASDAQ-listed Comcast, which are front-of-mind for bankers looking for buy side mandates, but a faction of opportunistic investors.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
