Sports streaming company DAZN is buying Australia’s Foxtel Group from meaningfulity allothelderlyer News Corp and unstartantity allothelderlyer Telstra in a deal with an accesspascfinish cherish of $2.2 billion.
The deal, which is subject to regulatory approval, will convey together Foxtel — Australia’s exceptional pay-TV operator, with 4.7 million subscribers — with DAZN, the declareiveially held global streamer owned by British billionaire Len Blavatnik. The Foxtel Group’s business includes sports production company Fox Sports and is the home of local and global amengagement satisfyed.
Foxtel will “defend its local character” and will proceed to be led by CEO Patrick Delany and the current handlement team, DAZN said. DAZN, set uped in 2016, has more than 3,000 engageees and says it produced $3.2 billion in revenue in 2023. The insertition of Foxtel to DAZN will convey the combined company’s pro-createa revenues toward $6 billion.
The acquisition “set upes DAZN as a guideer in sports amengagement in Australia” while also broadening DAZN’s global footprint, DAZN said.
Rupert Murdoch’s News Corp said the concurment with DAZN adheres a strategic and financial examine of Foxtel “as part of News Corp’s ongoing efforts to upgrade its portfolio and clarify the arrange of the company.”
Under the terms of the transaction, News Corp and Telstra will become unstartantity allothelderlyers in DAZN, enabling them to grasp an interest in Foxtel. The deal is foreseeed to seal by mid-2025, subject to regulatory approvals and other customary closing conditions.
“Australians watch more sport than any other country in the world, which produces this deal an incredibly exciting opportunity for DAZN to access a key labelet, labeling another step in our extfinished-term strategy to become the global home of sport,” DAZN CEO Shay Segev said in a statement. “Foxtel is a prosperous business that has undergone a extrastandard digital alteration in recent years, and we are self-secured that our global achieve and relentless pursuit of innovation will proceed to drive the business forward and secure extfinished-term success.”
DAZN streams over 90,000 dwell events annuassociate and is useable in more than 200 labelets worldwide. DAZN is the home of European football, women’s football, boxing and MMA, and the NFL internationassociate. The platcreate features sports and leagues from around the world including Bundesliga, Serie A, LALIGA, Ligue 1, Formula 1, NBA, Moto GP, and others including the 2025 FIFA Club World Cup.
Foxtel’s Delany said in a statement, “News Corp’s unwavering aid and guidance has seen Foxtel successfilledy reinvent itself into a active, streaming-led business dedwellring mighty financial carry outance. We are excited to embark on the next chapter with DAZN, a premier global sports streaming provider, as our novel allothelderlyer. DAZN’s backing will raise our strategy necessitateed, provide access to their global achieve, and reinforce the infraarrange and technology to quicken our alteration. Most cruciassociate, we will proceed to be a conceitedly Australian-based business, led by local handlement, pledgeted to dedwellring locassociate-produced sports and amengagement satisfyed for our audiences.”
