#Australia #Sydney #DAZN #Foxtel #Sports Media

DAZN Expands Its Global Presence with Foxtel Acquisition

In a landmark deal aimed at expanding its status as a premiere global sports streaming platform, DAZN has announced its acquisition of Foxtel Group, a leading sports and entertainment media powerhouse in Australia. This agreement, with an enterprise value of approximately $2.2 billion, marks a significant milestone for DAZN and its ambitions in one of the most dynamic sports markets globally.

Foxtel, known for its robust subscriber base of 4.7 million viewers, has undergone a notable transformation from a traditional pay-TV provider into a digital-first streaming leader. This acquisition signifies a pivotal point for both companies, aimed at leveraging their combined resources to enhance sports content delivery to audiences across Australia.

The Deal's Impact on DAZN

This strategic move allows DAZN to firmly establish itself within the Australian market, enhancing its content offerings and global reach. By integrating Foxtel's vast portfolio of sports broadcasting capabilities, DAZN anticipates a boost in its revenue, pushing its pro-forma revenues close to $6 billion. The partnership will enhance the quality of sports viewing experiences for Australian consumers, combining DAZN's advanced technology with Foxtel's local expertise and subscriber base.

DAZN's CEO, Shay Segev, emphasized the significance of this acquisition, stating, “Australians watch more sports than any other country in the world, making this an incredibly attractive opportunity for DAZN.” He recognized Foxtel’s history of successful digital transformation and expressed confidence that DAZN's innovative strategies would propel Foxtel's growth and solidify its market position.

Foxtel's Vision for the Future

Under the new arrangement, Foxtel will continue to operate with its current identity, led by CEO Patrick Delany and his management team. Delany articulated that this acquisition aligns with Foxtel’s vision to evolve further as a technology-led streaming competitor. He acknowledged that DAZN's expertise in the sports media industry will be vital for enhancing Foxtel's streaming capabilities and overall customer experience.

Foxtel offers a diverse selection of Australian and international sports, including AFL, NRL, and Cricket, and is poised to elevate these offerings with DAZN’s backing. Delany expressed excitement regarding DAZN's commitment and indicated that they are well-positioned for future growth.

Strengthening Sports Entertainment

Both companies recognize the potential to amplify Australian sports on a global scale. DAZN's extensive presence in over 200 markets worldwide allows for the opportunity to expose Australian favorites to international audiences, thereby promoting not only popular sports but also under-represented women’s sports.

News Corp and Telstra, previous stakeholders in Foxtel, will shift to become minority shareholders in DAZN, allowing them to maintain a link to Foxtel’s progress. This relationship is expected to foster collaboration while ensuring that Foxtel retains its unique local character amid its transformation.

Conclusion

As DAZN moves to solidify its position as a global home for sports, the acquisition of Foxtel stands as a testament to its growth ambitions. This partnership promises to reshape the sports entertainment landscape in Australia, providing fans with enriched access to diverse sports content and innovative streaming solutions. With aspirations high and groundwork laid, both companies are on a promising path toward achieving shared goals in the evolving digital sports domain.