News Corp advances talks with DAZN over Foxtel deal
The global sports streamer is closing in on an agreement with News Corp on a potential Foxtel transaction, which the parties hope to finalise within weeks.
News Corp has advanced talks with billionaire-backed global sports streaming platform DAZN over a deal involving Foxtel — one that could have wide-ranging implications for the Australian media sector.
The Murdoch-controlled media conglomerate’s global CEO, Robert Thomson, first signalled Foxtel was up for sale during an earnings call in August. By November, he told analysts that News Corp was in “active” talks regarding the pay TV operator’s future.
London-headquartered DAZN is closing in on an agreement with News Corp regarding a potential transaction involving Foxtel, which the parties hope to finalise within weeks, according to two people briefed on the talks who spoke on condition of anonymity to discuss confidential matters.
The parties are nearing an agreement on price, one of the people said. The value of the proposed transaction for Foxtel — which is carrying around $1.2 billion in debt — remains unclear.
