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BRIEF-Telstra Corporation says Foxtel, Fox Sports Australia to combine

Published 17/08/2017, 07:20 pm
Updated 17/08/2017, 07:30 pm
© Reuters.  BRIEF-Telstra Corporation says Foxtel, Fox Sports Australia to combine

Aug 17 (Reuters) - Telstra Corporation Ltd TLS.AX :

* Foxtel, Fox Sports Australia to combine

* News Corp (NASDAQ:NWSA) 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

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