News now holds 65 per cent of the new Foxtel, alongside Telstra’s 35 per cent. The media group plans to complete the integration of the pay-tv businesses before a planned float of the new entity on the Australian Securities Exchange later this year.
Under the new corporate arrangements, News will appoint four directors, including the chairman, to the new company’s board, as well as senior executives. Telstra will appoint two directors.
After the completion of the merger, New Corp Australasia executive chairman Michael Miller announced News would bring Foxtel’s corporate affairs, policy and government relations teams together under the leadership of Campbell Reid, News’ director of corporate affairs and editorial management. “
Campbell will take on group-wide responsibilities and bring a collaborative, whole-of-company approach to the role of corporate, government affairs and policy across our businesses,” Mr Miller and Foxtel chief executive Patrick Delany said in a joint-announcement to staff.
Mr Reid’s additional responsibilities follow the announcement that Foxtel’s group director corporate affairs Bruce Meagher is leaving the business.