DAZN acquires Australia's Foxtel Group in $2.2 billion deal
variety.com — December 23, 2024, 12:01 AM UTC
DAZN is acquiring Australia's Foxtel Group from News Corp and Telstra for $2.2 billion, pending regulatory approval. This deal combines Foxtel's 4.7 million subscribers and sports production capabilities with DAZN's global streaming services. News Corp and Telstra will become minority shareholders in DAZN, allowing them to retain an interest in Foxtel. The acquisition aims to enhance DAZN's presence in Australia, a key market for sports entertainment. Foxtel will continue to operate under its current management, maintaining its local identity. The deal is expected to close by mid-2025, subject to regulatory conditions.