TELSTRA TELECOM BECOMES MAJORITY STAKEHOLDER IN FETCH TV

Australian telecommunications and entertainment company, Telstra, has announced its current acquisition of a majority stake in Fetch TV, an entertainment service provider. This is a buildup on their partnership with Fetch TV to improve their platform, Telstra TV.

As per a press release by the firm, they have a 51.4 percent controlling interest in Fetch TV. The release confirms that Fetch TV will remain freestanding in its operations while Telstra functions as a major shareholder.   

The Group Executive of Product and Technology at Telstra, Kim Krogh Andersen, remarked on his anticipation of working with Fetch TV in creating engaging entertainment for their audiences.

“As part of our T25 growth strategy, home and entertainment is a core focus area for us. This acquisition gives us the opportunity to evolve Telstra TV and the experience we provide to our 800,000+ active users.

“We are also excited by the Fetch product roadmap and in-house capability and the opportunity to leverage additional investment and scale to accelerate innovation. Areas of focus include expanding the content proposition, introducing new functionality, and expanding hardware options, including Smart TVs.”

Chief Executive Officer of Fetch TV, Scoot Larson, commented: “With Telstra on board, Fetch is now well placed to deliver a genuinely competitive Australian home and entertainment solution with the scale to enable us to partner with global content and streaming providers. 

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This investment will mean better commercial outcomes for the Australian streaming sector, exciting product development for our Telco and Retail partners, and a dynamically evolving best-in-class aggregated viewing experience for our customers.”