$2.1bn deal comes as Rupert Murdoch’s conglomerate narrows focus to news, property and publishing
News Corp is selling Australian cable group Foxtel to UK-based sports streaming service DAZN in a A$3.4bn deal, as Rupert Murdoch’s media conglomerate narrows its focus to news, property and publishing. News Corp, which owns 65 per cent of the Australian pay-television company, will hold a minority equity stake of 6 per cent in DAZN and have a seat on DAZN’s board of directors.
News Corp chief executive Robert Thomson said the sale would free up the media conglomerate to focus on its fastest-growing businesses, including Dow Jones, the publisher of the Wall Street Journal; online property listings; and book publishing. “DAZN is the right owner to take the business to the next level,” he said. Sports streamer DAZN, created in 2016 out of Soviet-British billionaire Sir Leonard Blavatnik’s holding group Access Industries, has pursued new sports rights in recent years.
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