News Corp is edging closer to selling its pay TV and streaming business, with a deal potentially putting the company that broadcasts AFL and NRL games into foreign hands.
News Corp is edging closer to securing a deal for its pay TV and streaming group Foxtel with the billionaire-backed streaming platform DAZN, potentially taking the company that broadcasts the AFL and the NRL into foreign ownership.
However, the deal with FIFA has raised eyebrows, given the $1 billion DAZN is paying to the global footballing body to help it avoid a potentially embarrassing launch for the expanded event, after mainstream and traditional media companies reportedly baulked at FIFA’s unrealistic asking price. DAZN has haemorrhaged cash over the past few years, with its 2023 accounts expected to be filed in London later this month. It reported about $1.5 billion in operating losses in 2022. It could be offered a lifeline through the Saudis.Investing in Foxtel, a company with several long-term structural challenges, is unlikely to DAZN’s financial struggles. However, it would transform the company into the dominant sports streaming outfit in Australia overnight.
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