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Now that its official article yesterday
www.capitalbrief.com
The numbers: The $3.4 billion transaction saw $592 million in shareholder loans repaid to News Corp, with News Corp receiving a minority equity interest in DAZN of approximately 6%. Minority shareholder Telstra also took on a 3% position in DAZN.
Prior to the sale, News Corp owned 65% and Telstra owned 35% of Foxtel Group.
A DAZN statement on the sale reads that Foxtel, Kayo Sports, BINGE, and Hubbl will retain their brand identities, with Foxtel continuing to operate as a standalone business while benefitting from the UK-based DAZN’s international reach.
News Corp completes sale of Foxtel Group to Dazn
Rupert Murdoch’s News Corp has completed the sale of Australian cable TV group Foxtel to sport streaming platform DAZN.
The numbers: The $3.4 billion transaction saw $592 million in shareholder loans repaid to News Corp, with News Corp receiving a minority equity interest in DAZN of approximately 6%. Minority shareholder Telstra also took on a 3% position in DAZN.
Prior to the sale, News Corp owned 65% and Telstra owned 35% of Foxtel Group.
A DAZN statement on the sale reads that Foxtel, Kayo Sports, BINGE, and Hubbl will retain their brand identities, with Foxtel continuing to operate as a standalone business while benefitting from the UK-based DAZN’s international reach.