DAZN Acquires Foxtel, Expanding Global Presence in Australian Sports Market

In a significant move towards global expansion and market leadership in sports entertainment, DAZN has announced an agreement to acquire the Australian media giant, Foxtel Group, for an enterprise value of $2.2 billion, pending regulatory approval. This acquisition marks a major milestone in DAZN's strategy to establish itself as a leader in the lucrative Australian sports market, noted for having one of the highest per capita sports viewership in the world. Foxtel, which has evolved from its pay-TV origins to become a leading digital streaming platform, boasts 4.7 million subscribers who will now gain access to DAZN's expansive portfolio of sports content and technology. The deal allows News Corp and Telstra, Foxtel's current majority and minority shareholders, to retain a stake in DAZN. Shay Segev, CEO of DAZN, expressed excitement over the opportunity to enter a key market, aligning with the firm's long-term strategic ambition to be the global home of sports. Under the agreement, Foxtel will maintain its local flavor, continuing to expand its streaming capabilities under the leadership of CEO Patrick Delany. The acquisition is set to boost DAZN's pro-forma revenues towards $6 billion, aiding in the acceleration of its growth strategy. The integration of Foxtel into DAZN promises to enhance customer experiences and widen access to both Australian and international sports, reinforcing DAZN’s commitment to promoting diversity in sports broadcasting.