News Corp, Telstra to Merge FoxSports Into Foxtel
News Corp wants to consolidate its streaming service and sports network in Australia.

News Corp. (NWSA) and Australian telecom company Telstra Corp. (TLSYY) are ramping up talks to merge Australia's Fox Sports into streaming service Foxtel after the two companies delayed such a move and a potential public listing last year, Financial Review reported. 

News Corp. and Telstra each own 50% of Foxtel, but any potential merger would dilute Telstra's stake to 35%, sources told Financial Review. There were plans to list the combined companies on a public Australian exchange last year, but that was delayed due to the size of the potential merger. 

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