Advanced Television

DAZN completes Foxtel acquisition

April 2, 2025

By Colin Mann

Sports streaming platform DAZN has announced the completion of its acquisition of Foxtel Group from News Corp, which it says marks a major milestone in its expansion into the Australian market.

Subscription TV provider Foxtel will continue to operate as a standalone business while benefiting from the UK-based DAZN’s global reach, technology and investment in sports entertainment innovation. Foxtel, Kayo Sports, BINGE, and Hubbl will retain their brand identities.

“This is an exciting day for DAZN and Foxtel Group and a significant milestone for DAZN as we expand our global footprint into Australia, a key sports market with passionate fans,” commented Shay Segev, CEO of DAZN. “Foxtel’s strong local presence, combined with DAZN’s global scale, technology, and content rights, will unlock incredible opportunities for sports fans, advertisers, and partners, while continuing to deliver great drama, lifestyle and news content.”

“DAZN’s ownership allows the Foxtel Group to remain an Australian-based business, with an Australian team and the sport, drama and entertainment that Australians love,” added Patrick Delany, CEO of Foxtel Group. “As part of DAZN, we now benefit from their global scale, their leading technology platform and their track-record in innovation that will allow us to more effectively compete with the global streaming giants. A big part of what drives us at Foxtel is bringing the best sports and the best sports production to our subscribers. We now have the opportunity to take the AFL and NRL, our two largest and most iconic Australian sports, to a massive global audience. For our Australian subscribers, it creates the opportunity to enjoy even more of the world’s best sports.”

The integration process will be phased, ensuring a seamless transition for employees, partners, and customers. Foxtel will be known as ‘a DAZN Company’, reinforcing its connection to a global leader in sports entertainment.

The completion of the transaction follows DAZN receiving approval for the acquisition of Foxtel from the Foreign Investment Review Board, the Australian Competition and Consumer Commission and other regulatory authorities.

At completion, A$592 million (€346m) in shareholder loans were repaid to News Corp, and News Corp received a minority equity interest in DAZN of approximately 6 per cent. News Corp’s Senior Vice President and Deputy Chief Financial Officer Andrew Cramer also joined the board of DAZN effective upon completion, and News Corp and its platforms remain committed in their passionate support for Australian sport and entertainment.

“Foxtel’s successful transformation to becoming a leading provider of sports and entertainment is a result of the team’s tenacity, creativity and professionalism. Foxtel employees should be proud of their contribution to that success in the ultra-competitive content contest,” said Robert Thomson, News Corp’s Chief Executive. “We are confident that DAZN is poised to drive the next phase of Foxtel’s growth and we are delighted to be DAZN’s partner and shareholder. And we are pleased to have extra capital strength and optionality.”

“The sale of Foxtel is significant for News Corp, and will enable greater focus on our core growth pillars, which drove over 95 per cent of Total Segment EBITDA in the Company’s fiscal second quarter,” said Lavanya Chandrashekar, News Corp’s Chief Financial Officer. “It will also meaningfully strengthen our balance sheet, and should reduce future capital intensity and improve return on invested capital. We expect the disposition will also be accretive to earnings per share.”

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