News Corp has sold its pay TV business Foxtel to Global Sports Streaming Platform DAZN for A$3.4 billion. The acquisition is expected to close in the second half of 2025 and the Foxtel Group will maintain its head office in Artarmon.
“This acquisition is a significant step forward in the Foxtel Group’s transformation as a leading sports and entertainment streaming provider in Australia,” said Foxtel Group CEO Patrick Delany, who will continue as CEO following DAZN’s acquisition.
“We are excited to be joining the DAZN family and to have them backing the Foxtel Group‘s strategy and our team. It means we will remain a proudly Australian-based business with local character, local management and local sports and entertainment production.”
THE DEAL
- DAZN committed to Australia including maintaining a local head office, local leadership and local sports and entertainment production.
- Strengthens the Foxtel Group’s ability to continue its transformation and compete with local and international streamers.
- Provides more international sports for Foxtel and Kayo subscribers and new opportunities to bring Australian sport to DAZN’s global audience.
- Transaction values the Foxtel Group as a streaming-led business with an enterprise value of A$3.4 billion representing more than 7 x Fiscal 2024 Foxtel EBITDA.
- News Corp and Telstra will remain involved as shareholders in DAZN.
“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,” said Shay Segev, Chief Executive Officer of DAZN.
“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.
“We are also committed to using our global reach to export Australia’s most popular sports to new markets around the world, just as we have done with the NFL, and we will continue to promote women’s and under-represented sports.
“We’re looking forward to working closely with Patrick Delany and his team, as well as News Corp and Telstra as shareholders in DAZN, to realise our ambitious vision for the future of sport entertainment.”
ABOUT DAZN
As a world-leading sports entertainment platform, DAZN streams over 90,000 live events annually reaching 300 million viewers in owned and operated networks in more than 200 markets worldwide.
DAZN is the home of European football, women’s football, boxing and MMA, and the NFL internationally. The platform features the biggest sports and leagues from around the world – Bundesliga, Serie A, LALIGA, Ligue 1, Formula 1, NBA, Moto GP, and many more, including the 2025 FIFA Club World Cup. DAZN is transforming the way people enjoy sport. With a single, frictionless platform, sports fans can watch, play, buy, and connect live and on demand sports content, anywhere, in any language, on any device – only on DAZN.
DAZN partners with leading pay-TV operators, ISPs and Telcos worldwide to maximise sports exposure to a broad audience. Its partners include Deutsche Telekom, Orange, Sky, Movistar, Telenet, Vodafone, and many more.
DAZN is a global, privately-owned company founded in 2016 with more than 3,000 employees. The Group generated US$3.2bn in revenue in 2023, having grown its annual revenues by over 50% on average from 2020 to 2023, through diverse revenue streams comprising subscriptions, advertising, sponsorship, and transactional. For more information on DAZN, our products, people, and performance, visit www.dazngroup.com/
