News Corp Keeping Tight Lid On $30m Turnbull Grant For Foxtel
News Corp is not revealing what it will do with its $30m grant for Foxtel given by the Turnbull government nearly six months ago.
The Sydney Morning Herald says the funding agreement has been signed but Foxtel and News Corp are not disclosing which sports have benefited from this grant.
The cable broadcaster has been showing Women’s AFL and women’s softball however there is no evidence to suggest Foxtel used the money to obtain these rights.
A spokesperson told SMH, “The proof of our commitment to women’s and niche sports is already on screens today, and every day, and we look forward to that growing. We will be announcing details of this shortly.
“Our demonstrated commitment is evident -– we are currently in the second season of women’s AFL and have made a significant investment in broadcasting both domestic and international women’s sport (for example) basketball and surfing – as well as across several other sporting categories.”
The broadcaster was eligible for the first instalment – worth $7.5m – last month after the government signed off on its 2017-18 “strategic roadmap”, the report says.
This handout from the government caused issues as Channel Seven did not receive any money from the Turnbull government from broadcasting women’s AFL. The handout was seen as compensation to Foxtel as free-to-air networks had their licensing fees reduced.
News Corp’s half year results showed the company jumping 15 per cent in its cable revenues from $104m to $120m.