Australia's Telstra to take a $219 million charge on U.S. video platform impairment

Reuters News
Posted: Feb 01, 2018 6:32 PM

(Reuters) - Australia's Telstra Corp said on Friday it would take a A$273 million ($219 million) non-cash charge to its half year financial results after writing down the value of its U.S. video platform Ooyala to zero.

Telstra said it would look to exit one of the three key parts of Ooyala's business, ad tech, but still saw a future for the firm's video player and workflow management system units.

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Telstra is expected to report its half year earnings on Feb. 15.

(Reporting By Rushil Dutta in Bengaluru; editing by Richard Pullin)