News Corp to sell Australia’s Foxtel to sports streamer DAZN Group for $2.1 bln
) said on Monday it will sell Australian television unit Foxtel Group to British sports streaming platform DAZN Group for an enterprise value of A$3.4 billion .
The sale comes after News Corp signaled in August it was considering selling off Foxtel, as the unit clocked a steady decline in revenue and profit amid increased competition from streaming platforms. The deal, which is subject to regulatory approval, allows DAZN to enter the Australian market, which the sports streamer sees as a “key” market.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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