---
title: "News Corp Sells Australian Media Giant Foxtel to DAZN in 17 Billion Pound Deal"
publisher: "Stockmark.IT"
author: "Stockmark.IT Website"
published: "2024-12-24T10:50:13+00:00"
modified: "2024-12-24T10:50:13+00:00"
date: 2024-12-24
canonical: "https://stockmark.it/news-corp-sells-australian-media-giant-foxtel-to-dazn-in-17-billion-pound-deal/"
category: "Media"
categories: ["Media"]
image: "https://i0.wp.com/stockmark.it/wp-content/uploads/1735037271297_hugim1eO.jpg?fit=1024%2C576&quality=89&ssl=1"
format: "news"
language: "en-GB"
---

# News Corp Sells Australian Media Giant Foxtel to DAZN in 17 Billion Pound Deal

**Published:** December 24, 2024
**Author:** Stockmark.IT Website
**Categories:** Media
**Featured image:** ![Cameraman filming a sporting event with a Foxtel scoreboard in the background. from Stockmark.it](https://i0.wp.com/stockmark.it/wp-content/uploads/1735037271297_hugim1eO.jpg?fit=1024%2C576&quality=89&ssl=1)

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News Corporation has reached an agreement to sell its Australian media powerhouse Foxtel to British-owned sports network DAZN in a landmark deal valued at £1.7 billion. The transaction will see News Corp maintain influence through a board seat and retain a 6 per cent stake in DAZN.

DAZN, headquartered in London and backed by Ukrainian-born billionaire Sir Len Blavatnik, has established itself as a formidable force in sports broadcasting. The streaming giant already holds prestigious partnerships with major European football leagues, including Serie A, LaLiga, Bundesliga, and Ligue 1.

Foxtel Group, established by News Corp in 1995, has grown into one of Australia’s premier media organisations, boasting 4.7 million subscribers. The company’s portfolio encompasses subscription television, streaming services, sports production, and advertising, with exclusive rights to stream Australian Football League and National Rugby League matches.

Robert Thomson, News Corp’s chief executive, praised the agreement as a triumph for all stakeholders, emphasising DAZN’s technological capabilities and global presence as key factors in the decision. The move allows News Corp to concentrate on its core operations, including Dow Jones, digital real estate, and book publishing ventures.

DAZN’s co-founder and chief executive, Shay Segev, highlighted Australia’s exceptional sports consumption rates as a crucial factor in the acquisition. The deal requires regulatory approval, including clearance from Australia’s Foreign Investment Review Board, with completion expected in the latter half of 2025.

The market responded positively to the announcement, with News Corp’s shares in Australia climbing 3.5 per cent to A$50.79. Telstra, which sold its 35 per cent Foxtel stake to DAZN for A$128 million and a 3 per cent stake in the company, saw its shares rise by 1.1 per cent.

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