News Corp Australia Is Shutting Down 2 Cable TV Networks This Week





remote pointing at tv

Cord cutting is impacting cable TV operators around the world. At first, most cord cutting was limited to the United States, but in recent years it has exploded in popularity around the world.

Now News Corp Australia has announced that on February 29, 2024, it will shut down the SciFi channel previously known in Australia and in the United States as the SyFy channel. Also, the Foxtel Movies thriller channel will shut down on the 29th.

Foxtel, a cable TV system in Australia mostly owned by News Corp Australia, dropped MTV, Nickelodeon, Nick Jr, BeIN Sports, and PBS Kids channels in Australia too.

Foxtel is Australia’s largest cable TV provider and is, like many cable TV providers, losing TV subscribers. Foxtel Group lost 256,000 TV customers in the 4th quarter of 2023. This rate of loss is far slower than what companies like Comcast are seeing, but it’s still a major impact on the companies ability to continue to operate.

Foxtel must compete with a growing number of streaming services, including Disney+, that pull customers away from traditional cable TV services.

Other cable TV networks have also been shut down in Australia to include the Disney Channel as Disney moves customers around the world over to Disney+.

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