International sports-focused OTT streaming service DAZN has purchased Australian pay-TV broadcasting heavyweight Foxtel from its owners, News Corp and Telstra.
The purchase, which represents a franchise value of A$3.4 billion (US$2.2 billion) for Foxtel, includes the repayment of A$706 million in shareholder loans (A$578 million from News Corp, A$128 million from Telstra) as well as News Corp gaining a 6% minority equity shareholding in DAZN, and Telstra gaining 3%.
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On News Corp’s end, the deal was advised by the Goldman Sachs banking giant, and is expected to close by the second half of the 2025 financial year.
In completing the takeover, DAZN has established itself as a major player in the Australian sports market.
Foxtel is one of the most prominent rightsholders in the country, boasting 4.7 million subscribers and holding broadcast rights to competitions such as the Australian Football League, rugby league’s high-profile NRL, motorsports’ Formula 1, and in a recently expanded deal, Australian domestic cricket.
The broadcaster also holds rights to top-tier cricket such as the Indian Premier League T20 competition through 2027, and operates the popular Kayo OTT service, which achieved record viewership in 2024.
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By GlobalDataSpeaking on the purchase, DAZN chief executive Shay Segev stated: “This deal [is] an incredibly exciting opportunity for DAZN to enter a key market, marking another step in our long-term strategy to become the global home of sport.
“We are committed to supporting and investing in Foxtel's television and streaming services, across both sports and entertainment, using our technology to further enhance the viewing experience for customers.
“We are also committed to using our global reach to export Australia's most popular sports to new markets around the world, and we will continue to promote women's and under-represented sports.”
Patrick Delaney, the chief executive of Foxel Group, added: “DAZN’s backing will enhance our strategy needed, provide access to their global reach, and strengthen the infrastructure and technology to accelerate our transformation.
“Most importantly, we will continue to be a proudly Australian-based business, led by local management, committed to delivering locally-produced sports and entertainment content for our audiences."
DAZN holds several prominent sports rights for global distribution, including fights from boxing’s Queensberry promotions, but this is its first major inroads into Australian domestic sports.
