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News Corp Sells Foxtel to DAZN for A$3.4 Billion, Repaying A$578 Million, Including Kayo and Binge

Dec 22, 2024, 11:31 PM

News Corp has finalized an agreement to sell its pay-TV and streaming service Foxtel to the British sports streaming company DAZN for an enterprise value of A$3.4 billion. The deal includes the repayment of A$578 million in shareholder loans owed to News Corp in cash. Foxtel, which encompasses popular brands such as Kayo and Binge, is expected to undergo significant changes under DAZN's ownership, impacting Australia's media and sports landscape. The transaction marks a notable shift in the ownership of the subscription giant, which has been a key player in the Australian market.