Media Roundup: Cyclone coverage, Meta's mea culpa, AEC hits TikTok, Telstra's cost cutting, Retail's AI bid and TV crew robbed
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Telstra has exited the venture capital game, selling its majority stake in a $675 million fund at a steep discount. The telco offloaded its 62.5% share in what is now called Titanium Ventures for just $137 million - far below its estimated $422 million value - underscoring the financial pressures driving its $350 million cost-cutting plan.
As Jared Lynch writes in The Australian, while Telstra insists it turned a profit on book value, the sale highlights the volatile nature of venture investments.
The telco's latest accounts show it moved $166 million in gains to retained profits, but the lack of transparency around its original valuation raises questions about the true return.
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