Global Sports Streamer Dazn (“DA Zone”) has completed the $3.4 billion acquisition of Foxtel Group from News Corp and Telstra.
Foxtel is known as “A Dazn Company,” but will continue to operate as a standalone business, with Foxtel, Kayo Sports, Binge and Hubbl retaining their brand identity. There is a step-by-step integration process for your business.
Dazn streams 90,000 live events each year, and is available in over 200 markets. Home to European soccer, women’s football, boxing, MMA and the international NFL in the US, the Bundesliga, Serie A, Lariga, League 1, Formula 1, NBA, MotoGP, and 2025 FIFA Club World Cup.
In late December last year, the company announced plans to take over Foxtel, which previously owned 65% by News Corp and 35% by Telstra.
The agreement was finalised following approval of the acquisition by the Foreign Investment Review Board, ACCC and other regulatory authorities.
The sale saw $592 million in shareholder loans repaid to News Corp. Andrew Cramer, Senior Vice President and Deputy Chief Financial Officer at News Corp., has also joined the Dazn Board of Directors. Telstra also acquires around 3% of Dazn’s minority shareholder stake.
“This is an exciting day for Dazn and the Foxtel group, a key milestone for Dazn and expands its global footprint to Australia, a major sports market with passionate fans,” said Shay Segev, CEO of Dazn.
“Foxtel’s strong local presence and Dazn’s global scale, technology and content rights unlock incredible opportunities for sports fans, advertisers and partners, continuing to deliver amazing drama, lifestyle and news content.”
Patrick Delany, CEO of Foxtel Group, continues his role, with Dazn Takeover saying Foxtel “enables to maintain Australian-based businesses with Australian teams and Australians’ beloved sports, drama and entertainment.”
“As part of Dazn, we now benefit from their global scale, their key technology platforms and their track record in innovation, allowing us to compete more effectively with the global streaming giants.
“The majority of what drives us at Foxtel is bringing subscribers the best sports and the best sports production. We currently have the opportunity to bring Australian two iconic sports, AFL and NRL, to a large global audience. We are creating opportunities for Australian subscribers to enjoy the best sports in the world.”
News Corp CEO Robert Thomson said Foxtel’s transformation into a leading provider of sports and entertainment (with 4.7 million subscribers) was a result of the team’s “tensibility, creativity and professionalism.”
“Foxtel employees should be proud of their contributions to success in the ultra-competitive content competition,” he said.
“We are confident that Dazn is poised to drive the next phase of Foxtel growth and are pleased to become a partner and shareholder of Dazn.
