Telstra may sell it's 50% stake in Foxtel
Speculation is rife that Telstra is about to ditch its 50 per cent shareholding in Foxtel, as the pay TV network faces increased digital competition.
"I guess as an executive I will always want to be doing better, but it's [Foxtel] a great asset and that's why it's strategically important to us," Telstra boss Andy Penn told ABC News Breakfast this morning in response to the speculation.
But analysts are questioning how long Foxtel will remain a "great asset".
The internet is shaking TV to its core, with Netflix, for example, having a million subscribers after just one year in Australia.
"Foxtel's under pressure for content, they're under pressure for customers, they're under pressure for viewers, they're under pressure for revenue," said media analyst Steve Allen from Fusion Strategy.