Telstra Flags $219 Million Impairment Hit to US Video Business
01 Fevereiro 2018 - 10:18PM
Dow Jones News
By Robb M. Stewart
MELBOURNE, Australia--Telstra Ltd. (TLS.AU) forecast a 273
million Australian dollars (US$219 million) impairment charge after
writing down the carrying value of its U.S. video business Ooyala
to zero.
The hit will be recognized in the telecommunications company's
results for the six months through December.
Telstra bought an initial 9% stake in Ooyala in 2012 and
increased that to a controlling 98% two years later as part of a
broader strategy to provide solutions for broadcasters and other
companies. However, about 18 months ago it said it had identified
challenges to the business and a wider market that continues to
change.
"This was a business that Telstra purchased when the market
dynamics were very different," said Stephen Elop, Telstra's head of
technology and innovation and chairman of Ooyala.
He added Telstra had been working to improve the performance of
the business.
Telstra said it continues to see a future in the parts of Ooyala
that offer a video player and a workflow management system, but it
would seek to exit its advertising technology business.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
February 01, 2018 19:03 ET (00:03 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Telstra (PK) (USOTC:TLSYY)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Telstra (PK) (USOTC:TLSYY)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024
Notícias em tempo-real sobre Telstra Corporation Limited (PK) da OTCMarkets bolsa de valores: 0 artigos recentes
Mais Notícias de Telstra Corporation Ltd. (PC)