March 5, 2018 / 9:45 PM / 9 months ago

Telstra, News Corp to merge Fox Sports and Foxtel

March 6 (Reuters) - Telstra Corp and News Corp on Tuesday said they agreed to combine Foxtel and Fox Sports Australia, two months after Australia's competition watchdog dropped its opposition to the merger.

Under the terms of the deal, News Corp will hold 65 percent in the combined entity and Telstra 35 percent, the companies said in a joint announcement.

The transaction is expected to close during the fourth quarter of this year. (Reporting by Chris Thomas in Bengaluru Editing by Matthew Mpoke Bigg)

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