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Telstra Corporation Announced Foxtel Impairment Post News Corp Write Down

  • May 08, 2020 12:41 PM AEST
  • Team Kalkine

Telstra Corporation Limited (ASX:TLS) announced that it expects to make a non-cash impairment & write down of the carrying value of its 35% stake in Foxtel after the write down in value of Foxtel by News Corp.

TLS expects an impairment charge of ~ $300 million against its this investment in its FY2020 results. It would write down the value of TLS’s share in Foxtel from $750 million to ~ $450 million.

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