News Corp to Sell Foxtel to DAZN in $2.13 Billion Deal

MT Newswires16:53

News Corporation (NWSA.US) sells its cable Television business Foxtel in a deal worth 2.1 billion USD.

Media tycoon Murdoch's news group (NWSA.US) has sold Australia's cable television business Foxtel to the United Kingdom Sports streaming company DAZN for a total consideration of 3.4 billion Australian Dollars (approximately 2.128 billion USD), including debt. After the Trade is completed, the news group will Hold a 6% equity stake in DAZN and will have one seat on the Board of Directors. Foxtel is valued at about 7 times its EBITDA. Under the agreement, a total of 0.578 billion Australian Dollars in shareholder debt will be repaid, and Foxtel's current debt will be Refinanced. DAZN broadcasts top football leagues in Italy, Spain, Germany, and France.

AASTOCKS10:35

Express News | Murdoch's News Corporation will sell Foxtel to DAZN in the United Kingdom for $2.1 billion.

Breakings07:43

DAZN Advances Global Expansion with Acquisition of Foxtel, a Leading Australian Sports and Entertainment Media Group

PR Newswire07:32

Express News | The Australian telecommunications company has sold most of its Foxtel shares to DAZN.

Breakings07:25

Express News | Telstra Shares Gain 0.3% to a$3.99 After Deal to Divest 35% Stake in News Corp' Foxtel

Breakings07:22