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.

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

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

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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.

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