DAZN, the global sports streaming service, has completed its acquisition of Australian pay-TV broadcasting heavyweight Foxtel.
Foxtel – up to this point, owned by News Corp – is set to continue operating “as a standalone business” while also benefitting from “DAZN’s global reach, market-leading technology, and investment in sports entertainment innovation.”
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Foxtel will retain its own brand identity, as will the Kayo Sports streaming service, Binge, and Hubbi platforms.
The deal was first announced in late December, and represents a franchise value of A$3.4 billion (US$2.2 billion at the time) for Foxtel. It 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%.
All necessary regulatory approvals, including those from bodies such as the Foreign Investment Review Board and the Australian Competition and Consumer Commission, have now been secured.
There will now be a phased integration process, with Foxtel to be known as “a DAZN company” in future.
Foxtel is one of the most prominent sports rightsholders in the country, boasting 4.7 million subscribers and covering properties such as the Australian Football League, motorsports’ Formula 1, and in a recently expanded deal, Australian domestic cricket.
The broadcaster also holds rights to a whole swathe of 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.
Shay Segev, DAZN’s chief executive, has commented on the completed tie-up: “Foxtel’s strong local presence, combined with DAZN’s global scale, technology, and content rights, will unlock incredible opportunities for sports fans, advertisers, and partners, while continuing to deliver great drama, lifestyle and news content.”
For DAZN, this marks the streaming service’s first serious move into Australian sports.
Patrick Delany, Foxtel Group’s CEO, added: “DAZN’s ownership allows the Foxtel Group to remain an Australian-based business, with an Australian team and the sport, drama and entertainment that Australians love. As part of DAZN, we now benefit from their global scale, their leading technology platform, and their track record in innovation that will allow us to more effectively compete with the global streaming giants.”
Meanwhile, News Corp chief exec Robert Thomson stated: “Foxtel’s successful transformation to becoming a leading provider of sports and entertainment is a result of the team’s tenacity, creativity and professionalism.”
In terms of recent Foxtel activity, late last month, the pay-TV giant unveiled a multi-year rights extension with the English rugby league’s Super League.
Kayo Sports will continue to broadcast every game from the 12-team Super League throughout the length of this renewed agreement.
The Foxtel platform also has a domestic deal in place with Australia’s National Rugby League property.
