MADRID Dec. 23 () –
The sports platform DAZN announced this Monday, December 23, an agreement to acquire Foxtel Group (‘Foxtel’) from its majority shareholder News Corp and its minority shareholder Telstra Group Ltd (‘Telstra’) for an enterprise value of $2.2 billion. , subject to regulatory approval.
This was announced by the company, which highlighted that the incorporation of Foxtel into DAZN raises the group’s pro forma revenues to $6 billion and provides additional content, experience and new expansion opportunities to accelerate DAZN’s growth trajectory. .
Likewise, he explained that Foxtel will maintain its local character and will be led by the current CEO, Patrick Delany, along with his renowned management team. Under the terms of the transaction, News Corp and Telstra will become minority shareholders in DAZN, allowing them to retain a stake in Foxtel.
“Australians are the biggest sports fans in the world, making this deal an extraordinarily exciting opportunity for DAZN to enter a key market. This step marks a milestone 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 constant pursuit of innovation will continue to drive the business and ensure long-term success,” said Shay. Segev, CEO of DAZN Group.
Likewise, he assured that they are “committed to supporting and investing in Foxtel’s television and streaming services, both in sports and entertainment”, using their “cutting-edge technology to further optimize customers’ viewing experience.” . “We are also committed to using our global reach to bring Australia’s most popular sports to new markets around the world, while continuing to promote the development of women’s sports and those with less media exposure,” he noted, adding that they are “looking forward to working closely with Patrick Delany and his team, as well as News Corp and Telstra as DAZN shareholders, to realize” their “ambitious vision for the future of sports entertainment.”
Due to its size, Siobhan McKenna, Chairman of Foxtel, commented that the agreement with DAZN represents international recognition of Foxtel’s transformation from a traditional pay TV operator to becoming a leader in sports streaming and digital entertainment. “Over the last seven years the Foxtel team, with the great support of News, has achieved extraordinary change in an extremely competitive environment,” he said.
Finally, Patrick Delany, CEO of Foxtel Group, said: “Today’s announcement is a natural evolution for Foxtel Group, having reinvented the company over the last five years and become the most dynamic and technology-driven streaming company. Australian technology.
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