DAZN has announced that it has completed its acquisition of Foxtel Group, one of Australia’s largest sports media companies, from News Corp – the deal, reportedly worth $2.1bn.
Notably, Foxtel, Kayo Sports, BINGE and Hubbl will retain their identities and continue to show the Australian Football League (AFL) and National Rugby League (NRL).
The acquisition marks the latest expansion of DAZN’s international profile, with the company holding the media rights to several major sports tournaments and events.
Meanwhile, the London-based firm’s sportsbook, DAZN Bet, has been taken live in the UK, Italy, and Germany, and plans are underway for market launch in France.
DAZN Chief, Shay Segev, said: “The move marks a significant milestone for DAZN as we expand our global footprint into Australia, a key sports market with passionate fans.”
The Foxtel Group currently has 4.7 million subscribers across its subscription TV service.
“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,” Segev added.
It is important to note, however, that News Corp will still hold a 6% stake in DAZN, while Co-Owner Telstra “will claim 3% of DAZN”. Prior to the agreement, the pair owned 65% and 35%, respectively.
Foxtel CEO, Patrick Delany, detailed: “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.”
The streaming service emphasised that there will now be a phased integration process, with Foxtel to be known as ‘a DAZN company’ in the future.
As well as the NRA and AFL, Foxtel also holds rights in Formula 1, and in a recently expanded deal, Australian domestic cricket.
It is also prominent in professional cricket, for example, with its deal with the Indian Premier League (IPL) T20 competition that runs through to 2027.
For now, it seems that DAZN’s ambitions in Australia are limited to media, with the country’s appetite for various sports proving a lucrative proposition. It is unclear whether there are any plans to launch DAZN Bet in the market in the future.
Doing so would enter the brand into a market with gambling turnover well over AUS$200bn (£97.4bn), but also a highly competitive one dominated by legacy brands like Tabcorp, Ladbrokes Australia, Neds and Sportsbet – though some challengers like BlueBet/Betr have been having luck there.
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