DAZN talks with Saudi Arabia add twist to News Corp's Foxtel sale
Saudi Arabian interest in DAZN could prompt the Foreign Investment Review Board to scrutinise News Corp's sale of Foxtel to the UK streamer more closely.
News Corp’s $3.4 billion sale of Foxtel to DAZN could face heightened regulatory scrutiny as the UK-headquartered global sports streamer entertains investment interest from a unit of Saudi Arabia’s sovereign wealth fund.
The Foxtel deal, which was announced just before Christmas last year, is already subject to regulatory approvals, including from the Foreign Investment Review Board. However, potential Saudi investment in DAZN could expose the transaction to even more regulatory scrutiny.
DAZN held talks with a unit of Saudi Arabia’s sovereign wealth fund according to the New York Times. The talks could see the kingdom invest about USD1 billion in DAZN and secure a stake of up to 10% of the global sports streaming platform. The stake could be announced within weeks, according to Bloomberg.
That could prompt the Foreign Investment Review Board to scrutinise the transaction more closely, according to deal experts.
