DAZN’s acquisition of Australian media powerhouse Foxtel Group for $2.2 billion marks a transformative alliance in the sports streaming industry. This deal, pending regulatory approval and expected to finalize by mid-2025, positions DAZN as a dominant player in Australia while expanding its global reach. The combined revenues of both entities are projected to reach approximately $6 billion, representing significant growth for both companies.
Foxtel, with 4.7 million subscribers, has transitioned from a traditional pay-TV operator to a digital and streaming leader in sports and entertainment. DAZN’s acquisition will retain Foxtel’s local management team, led by CEO Patrick Delany, and maintain its focus on Australian-produced sports and entertainment programming.
Shay Segev, CEO of DAZN, described the deal as a major opportunity for growth, “Australians consume more sport than any other country, making this an incredible opportunity for DAZN to enter a key market. Foxtel’s remarkable digital transformation over recent years complements our commitment to innovation and growth.”
The partnership aims to combine DAZN’s global expertise with Foxtel’s established presence in Australia. Patrick Delany emphasized the potential benefits for Australian audiences, saying “DAZN’s investment will enhance our streaming capabilities and allow us to deliver a bigger and better service across sports, entertainment, and news. Their global reach also offers exciting prospects for showcasing Australian sports internationally.”
News Corp and Telstra, the current majority and minority shareholders of Foxtel, will retain equity stakes of approximately 6% and 3%, respectively, in DAZN. These stakes, combined with the repayment of outstanding shareholder loans—$361 million for News Corp and $80 million for Telstra—highlight their continued commitment to the platform.
Robert Thomson, CEO of News Corp, called the acquisition a mutually beneficial arrangement, “This agreement is a win for News Corp shareholders, DAZN, and sports fans alike. Foxtel has been transformed into a streaming leader, and DAZN is the right partner to take the business to the next level.”
DAZN, which streams over 90,000 live events annually across 200 markets, is focused on increasing the global audience for Australian sports. The acquisition will provide Foxtel subscribers with access to DAZN’s extensive portfolio, featuring prominent leagues and events such as European football, boxing, MMA, and the NFL.
Segev highlighted DAZN’s vision for innovation and growth, “We’re committed to investing in Foxtel’s services and using our global platform to export Australia’s most popular sports to new audiences. This partnership will also promote underrepresented sports, ensuring diverse and inclusive content for viewers worldwide.”
The deal combines DAZN’s global reach with Foxtel’s local expertise to deliver an enhanced sports streaming experience. As the largest Australian-based streamer of sports and entertainment, Foxtel’s platforms, including Kayo and BINGE, are set to benefit from DAZN’s technology and resources.
Delany expressed optimism about the collaboration, stating “We’ve reimagined the future of Foxtel, launching successful platforms like Kayo and BINGE. DAZN’s backing will propel us further, ensuring continued innovation and growth for our subscribers.”
The acquisition represents a bold step forward for both companies, bringing local expertise and global innovation together to redefine the sports streaming experience for fans in Australia and beyond.
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