Sports streamer DAZN has bought out Foxtel majority shareholder News Corp and minority shareholder Telstra in a deal worth US$2.2 billion.
Foxtel currently has 4.7 million subscribers and holds the AFL and cricket broadcast rights until the end of the decade. Foxtel will maintain its local character, led by CEO Patrick Delany, said DAZN.
Under the terms of the deal, News Corp and Telstra will become minority shareholders in DAZN.
Speaking about the deal, Shay Segev, chief executive officer of DAZN, said: “Australians watch more sport than any other country in the world, which makes this deal an incredibly exciting opportunity for DAZN to enter a key market, marking another step in our long-term strategy to become the global home of sport.
“Foxtel is a successful business that has undergone a remarkable digital transformation in recent years, and we are confident that our global reach and relentless pursuit of innovation will continue to drive the business forward and ensure long-term success.
“We are committed to supporting and investing in Foxtel’s television and streaming services, across both sports and entertainment, using our world-leading technology to further enhance the viewing experience for customers.”
