Last week News Corp chief executive Robert Thomson and Foxtel CEO Patrick Delany spoke about the media group’s subscription TV division – Thomson at the News Corp full-year results, Delany in an interview with Mediaweek . Thomson revealed the company was assessing an unspecified offer for Foxtel from a third party. Delany told Mediaweek it was above his pay grade – his job is to continue to run the business day-to-day and let the shareholders decide the future.
Mediaweek drew up a shortlist of potential bidders last week with Telstra, Nine and Warner Bros Discovery high on that list. We didn’t mention private equity interest. The AFR reported a likely buyer could be LA-based Platinum Equity.
The investor has a smallish portfolio in Australia and its major media holding globally is post-production house Deluxe. Foxtel Group’s Patrick Delany Patrick Delany spoke to Mediaweek after the release of the full year results. He updated us on current strategy which sees subscription numbers rise, and growing ad revenue.
Even a glimmer of success for the much-ridiculed Hubbl device. Delany explained, “Foxtel Group streaming revenues and advertising revenues are now back. More than backfilling the loss of subscribers in the Foxtel business.
The reason for that is that we’re growing in streaming, but importantly, the number of subscribers leaving Foxtel and the decline in revenue is smaller and smaller as the years go by .” “It really was a tale of two halves last year. .