Telstra completes acquisition of majority stake in Fetch TV

Telstra has announced that it has completed its acquisition of a 51.4% majority stake in Fetch TV, and Telstra has stated that Fetch TV will continue to operate as a separate, standalone business with Telstra.

Telstra originally announced its 51.4% controlling stake in Fetch TV in April this year and the company had to wait for the ACCC to approve the controlling stake, which it did a week ago.

Telstra Group Product and Technology Director Kim Krogh Andersen said:

“As part of our T25 growth strategy, home and entertainment is the most important area for us. This acquisition gives us the opportunity to grow Telstra TV and the experience for our more than 800,000 active users,” and “We are excited about the Fetch product roadmap and in-house capabilities, as well as the opportunity to leverage additional investment and scale to accelerate in order to innovation. Areas of focus include expanding the content offering, introducing new features and expanding hardware options, including smart TVs.”

Fetch TV CEO Scott Lorson also stated that:

“With Telstra, Fetch is now well positioned to create a truly competitive Australian home and entertainment solution that will enable us to partner with global content and streaming providers. This investment means better commercial outcomes for the Australian streaming sector, exciting product development for our Telco and Retail partners and a dynamically evolving best-in-class overall viewing experience for our customers.”

Telstra said current Telstra TV users based on Roku streaming software will continue to support all existing users during the launch period and Telstra will begin offering Fetch-based products to customers with an “exciting new TV entertainment offer”. . in 2023″.

It’s unclear what this means for current Telstra TV/Roku streaming devices next year once the company starts rolling out Fetch TV streaming boxes, and we’re waiting to see if they’ll be supported beyond next year, but we’ll keep you posted on any news comes to hand.

Leave a Comment