Telstra Corporation Ltd
(ASX:TLS) is believed to be looking to acquire a stake in television channel TVN.
A report in The Australian Financial Review says the telco is engaged in early stage talks with the thoroughbred racing broadcaster which the paper says could progress to Telstra taking as much as a quarter stake in TVN.
The Fin Review says the stake would help TVN fund a takeover bid for rival Sky Channel.
According to the paper, discussions between TVN and Tabcorp, owner of Sky, about a merger which would have seen TVN emerge with a 51% stake in Sky, collapsed in April.
Telstra’s interest in the racing channel comes amid moves by the telco to increase broadband sales through its T-Box internet enabled digital video recorder, says the paper, with Telstra looking to increase its range of content.
Telstra earned $4.073 billion for the 2009 fiscal year.
