News Corp Agrees to Sell Foxtel to DAZN in A$3.4 Billion Deal

Bloomberg

2024-12-23

(Bloomberg) -- News Corp. has agreed to sell Foxtel to global sports firm DAZN Ltd. in a deal that values the pay-TV service at A$3.4 billion ($2.1 billion).

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Under the terms of the agreement, shareholder loans valued at A$578 million outstanding will be repaid in full in cash, and Foxtel’s current debt will be refinanced, according to a statement Monday. News Corp will hold a minority equity interest in DAZN of about 6% as well a seat on its board of directors.

Telstra Group Ltd. will also sell its minority interest in Foxtel, have its shareholder loans of A$128 million repaid, and take a minority stake in DAZN of approximately 3%.

The transaction is expected to close in the second half of fiscal 2025, and is subject to regulatory approvals and other customary closing conditions.

To view the source of this information click here

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©2024 Bloomberg L.P.

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New York City’sHistoric Preservation Movement Is Having a Midlife Crisis. Mexico City to Boost Mobility, Security Ahead of FIFA World Cup. Under the terms of the agreement, shareholder loans valued at A$578 million outstanding will be repaid in full in cash, and Foxtel’s current debt will be refinanced, according to a statement Monday. News Corp will hold a minority equity interest in DAZN of about 6% as well a seat on its board of directors.Telstra Group Ltd. will also sell its minority interest in Foxtel, have its shareholder loans of A$128 million repaid, and take a minority stake in DAZN of approximately 3%.The transaction is expected to close in the second half of fiscal 2025, and is subject to regulatory approvals and other customary closing conditions.Phil Knight Is Using His Nike Fortune","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"NWSA":"新闻集团","NWS.AU":"NEWS CORP - CLASS B- CDI","BK7038":"出版","NWS":"新闻集团"},"translate_title":"新闻集团同意以34亿美元的价格将Foxtel出售给DAZN","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NWS":0.9,"NWS.AU":0.9,"NWSA":0.9},"content_text":"(Bloomberg) -- News Corp. has agreed to sell Foxtel to global sports firm DAZN Ltd. in a deal that values the pay-TV service at A$3.4 billion ($2.1 billion).\nMost Read from Bloomberg\n\nReviving a Little-Known Modernist Landmark in Buffalo\nThe Architects Who Built Miami\nNew York’s Congestion Pricing Plan Still Faces Legal Hurdles\nNew York City’s Historic Preservation Movement Is Having a Midlife Crisis\nMexico City to Boost Mobility, Security Ahead of FIFA World Cup\n\nUnder the terms of the agreement, shareholder loans valued at A$578 million outstanding will be repaid in full in cash, and Foxtel’s current debt will be refinanced, according to a statement Monday. News Corp will hold a minority equity interest in DAZN of about 6% as well a seat on its board of directors. \nTelstra Group Ltd. will also sell its minority interest in Foxtel, have its shareholder loans of A$128 million repaid, and take a minority stake in DAZN of approximately 3%. \nThe transaction is expected to close in the second half of fiscal 2025, and is subject to regulatory approvals and other customary closing conditions.\nTo view the source of this information click here\nMost Read from Bloomberg Businessweek\n\nPhil Knight Is Using His Nike Fortune to Make Oregon a Football Powerhouse\nElon Musk’s Christmas Gift to America: Chaos\n‘There Are No Rules’: Inside College Football’s New Pay for Play\nOffice Real Estate Is Facing ‘a Year of Reckoning’ in 2025\nThe Property Brothers Say Hold Off on the Big Home Renovation in 2025\n\n©2024 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"}}}