DAZN, a billionaire-backed sports streaming platform owned by Len Blavatnik, will acquire Foxtel and the transaction is expected to be finalised in the second half of 2025, News Corp announced today.
DAZN, a billionaire-backed sports streaming platform owned by wealthy businessman Len Blavatnik, will acquire Foxtel and the transaction is expected to be finalised in the second half of 2025, News Corp announced today.
The Australian media company said the proposed deal will allow it to focus on its "key growth segments" including real estate and book publishing.Foxtel chief executive Patrick Delaney said DAZN's acquisition will see Foxtel expand its offerings into global sports. "News Corp's unwavering support and guidance has seen Foxtel successfully reinvent itself into a dynamic, streaming-led business delivering strong financial performance," Delany said."We are excited to embark on the next chapter with DAZN, a premier global sports streaming provider, as our new shareholder.
"DAZN's backing will enhance our strategy needed, provide access to their global reach, and strengthen the infrastructure and technology to accelerate our transformation. "Most importantly, we will continue to be a proudly Australian-based business, led by local management, committed to delivering locally-produced sports and entertainment content for our audiences."DAZN is owned by Access Industries, which was founded by Soviet-British businessman Blavatnik.Access also has major stakes in Warner Music Group, French music platform Deezer and film house A24.
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