MCN in the spotlight as Foxtel battles sliding revenues

Foxtel has warned more jobs at its sales arm MCN are at risk along with coverage of second-tier sports as the pay-TV operator battles sliding revenues and looks to refinance its lines of credit.

In a statement to the US Securities and Exchange Commission, parent News Corp disclosed Foxtel’s revenues had slid 8% to $1.55bn in the first half of the company’s 2019 financial year and flagged continued headcount reductions at MCN along with “reduced spend on non-marquee sporting content’

 

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