Job cuts hit Foxtel, four weeks into new ownership
Foxtel has made 100 staff redundant, less than a month after being acquired by British firm DAZN, but confirmed it intended to keep supporting its streaming aggregation business Hubbl.
The cuts at the pay TV and streaming operator largely target staff from Foxtel's marketing and engineering teams. Staff were told of the decision on Wednesday.
A Foxtel spokesperson confirmed a number of 'highly skilled and highly valued people... will leave the Foxtel Group'.
'Our transformation is not new. We have been focused on efficiency for almost a decade, which has seen us successfully transform our business from being a single-product pay-TV operator to a modern Australian leader in streaming,' the spokesperson said.
'As part of the DAZN Group, we now have the opportunity to continue our transformation and take advantage of their global engineering and services. We are also working with DAZN to share our world-class product and technology expertise.'
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DAZN agreed to buy Foxtel from its dual shareholders News Corp and Telstra in December in one of the most impactful Australian media deals of the 21st century.
The redundancies are understood to have included some staff from the company's streaming aggregation business Hubbl.
Last week, The Australian Financial Review reported Foxtel had begun reviewing the future of Hubbl, which launched at the start of 2024 after spending more than $150 million.
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