"Our company began in Australia and Australia remains a critical part of our future."Started in 1995 as a joint venture with local telecom Telstra Corp, Foxtel, which used satellite dishes and television"set-top boxes", once seemed primed for home viewing dominance against a handful of free-to-air TV channels.
Earnings have been hurt by subscribers taking up cheaper - and lower revenue - online offers from Foxtel itself, while it now faces a pandemic-related shutdown of sports, its main competitive difference. "I've had a view it's worth nothing for a long time," said Rhett Kessler, a principal at Pengana Australian Equities, a top-20 shareholder of Telstra.News Corp declined comment beyond Mr Murdoch's statement. It has said a new streaming service, Binge, will capitalise on Australians' appetite for content during prolonged periods at home due to the coronavirus response.
Accelerating change in Australia may fall to Lachlan, 48, when Mr Murdoch senior cedes control, analysts and people with knowledge of the company say, with the company taking a more commercially focused approach.
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