News Corp Completes Sale of Streaming Unit to British Media Firm

MT Newswires Live

04/03

News Corp (ASX:NWS) completed the sale of its sports and entertainment content streaming unit, Foxtel Group, to DAZN after receiving approval from the Foreign Investment Review Board and other regulatory authorities, according to a Wednesday filing with the Australian bourse.

As part of the deal, AU$592 million in shareholder loans were repaid to News Corp, along with a minority equity stake of about 6%, the filing said.

The company expects the transaction to be accretive to earnings per share, the filing added.

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