After months of speculation News Corp would soon buy a Free-To-Air (FTA) network, Executive Chairman Michael Miller has said it won’t happen today, adding News would be mainly focusing on Foxtel for the time being.
When asked about media reform and possibilities ahead for buying an FTA network, Miller was quick to rule it out.
“No, not today,” he said.
Earlier this month, the rumour mill went into overdrive when reports surfaced that Australia could soon have its first ever commercial 24-hour business channel on free-to-air TV, as Nine was reportedly discussing the possibility of part-owning Sky News Business with News Corp.
The deal that was being talked about between the two media giants included a rebrand of Sky Business News, along with an expanded focus to cover areas such as personal finance and consumer issues in light of the banking royal commission, according to The Australian.
In May, many speculated Seven West Media’s (SWM) cost-cutting measures may lure in News Corp.
The rumours followed SWM increasing its cost-cutting target by $25 million over the next two financial years and suspended its dividend despite posting a big profit rise for the first half of FY18.