+xA few things might happen 1. Fox invest more in a-league because they have no football now 2. They give up on even bothering with local football. 3. Business as usual. Or they might not. I hope you’ve enjoyed those gripping insights :) News Corporation chalks up $1.9bn loss as Foxtel's value written down by another billionUpdated Global media giant News Corporation has suffered another nasty full year loss of $US1.4 billion ($1.9 billion) as it continues to write down the value of its Australian pay-TV subsidiary, Foxtel. The big full year loss follows last year's $US643 million ($870 million) loss where the value of a range of newspapers and TV platforms were slashed. Foxtel and Fox Sports saw their value cut by $US998 million ($1,354 million) as part of their consolidation into a single company, with News owning 65 per cent of the business and Telstra controlling the other 35 per cent. The transaction also incurred further costs to the bottom line of almost $800 million, which included tax. The previous year's result was also affected by a $1.4 billion write-down at Foxtel. "News Corp is now a more substantial company after the Foxtel transaction, with a much higher percentage of recurring, subscription-based revenues, which should help offset a volatile advertising environment," News chief executive Robert Thomson said. The better news was an overall rise in full year revenues across the company, up 11 per cent to $US9.02 billion ($12.2 billion).
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