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Murdoch's News Corp Sells Foxtel to DAZN: A $2.1 Billion Deal Reshaping the Australian Sports Landscape

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Murdoch's News Corp Sells Foxtel to DAZN: A $2.1 Billion Deal Reshaping the Australian Sports Landscape

In a strategic move, News Corp divests Foxtel to DAZN, marking a significant shift in the media and streaming industry in Australia.

Business Mind /

In a landmark decision, News Corp has agreed to sell its Australian cable-TV unit Foxtel to the British sports streaming giant DAZN for A$3.4 billion (approximately $2.1 billion), including debt. This significant transaction is not just a financial maneuver but also a strategic pivot as the Murdoch-controlled media empire seeks to reduce its exposure to traditional cable television in an era increasingly dominated by streaming platforms. As consumer preferences shift towards on-demand content, this sale represents a critical moment for both companies and the broader Australian media landscape.

**The Deal Breakdown:** The sale of Foxtel is a noteworthy development in the media sector, particularly for News Corp, which has long been a dominant player in the Australian market. Under the terms of the deal, News Corp will not only divest its cable operations but will also secure a board seat and retain a 6% stake in DAZN. This dual approach allows News Corp to maintain a foothold in the evolving digital sports landscape while mitigating the risks associated with traditional cable subscriptions. **Impact on Australian Sports Broadcasting:** With this acquisition, DAZN secures exclusive streaming rights to major Australian sporting events, including the Australian Football League (AFL) and the National Rugby League (NRL). This move is expected to enhance DAZN's content offerings and attract a larger viewership base, as it aims to compete with established broadcasters. For fans, this means more accessible and flexible viewing options, aligning with the growing trend towards streaming services. **The Streaming Revolution:** The transition from cable to streaming is reshaping how audiences consume media. DAZN's acquisition of Foxtel reflects a broader trend where traditional media companies are reevaluating their strategies in light of the rapid shift towards digital platforms. As streaming continues to gain traction, traditional cable services face increasing pressure to adapt or risk obsolescence. This evolution is not just reshaping media companies but also redefining the relationship between sports, fans, and technology.

As media analyst Jessica Smith states, “This acquisition is a clear indication that the future of sports broadcasting lies in streaming. DAZN's investment in Foxtel not only expands its reach but also signals to traditional media that adapting to consumer preferences is no longer optional.”

The sale of Foxtel to DAZN marks a pivotal moment in the Australian media landscape, illustrating the significant shift from traditional cable to streaming services. For News Corp, this decision reflects a strategic realignment in response to changing consumer behaviors and the competitive pressures of the digital age. As DAZN continues to expand its footprint in Australia, audiences can expect a more dynamic and accessible approach to sports broadcasting, paving the way for a new era in how we consume live sports. This deal not only reshapes the future of Foxtel but also sets the stage for a transformed media environment in Australia.


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