Rupert Murdoch's News Corp Sells Foxtel to DAZN for $2.1 Billion, Marking a Strategic Shift in Australia's Media Landscape
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Rupert Murdoch's News Corp has agreed to sell its Australian pay-TV unit, Foxtel, to Britain's DAZN for $2.1 billion. This deal, which values Foxtel at A$3.4 billion, is expected to close in the second half of fiscal 2025, subject to regulatory approvals and other customary closing conditions.
Foxtel, which has undergone a remarkable digital transformation in recent years, will continue to operate as an Australian-based business under local management. The acquisition is expected to strengthen Foxtel's infrastructure and technology, further accelerating its digital and streaming leadership in the market.This transaction is seen as a win for all parties involved, including News Corp shareholders, DAZN, and sports fans in Australia and around the world. The deal marks a pivotal shift in Australia's media landscape, combining Foxtel's local expertise with DAZN's global reach and technological capabilities.