Get the latest gossip
Rupert Murdoch’s News Corp Completes Foxtel Group Sale to DAZN
News Corp has finalized the sale of Australian pay-TV operator Foxtel Group to global sports streaming provider DAZN.
The Rupert Murdoch-controlled media giant also secured an approximately 6% minority stake in DAZN, along with a board seat for News Corp senior VP and deputy CFO Andrew Cramer. “Foxtel’s successful transformation to becoming a leading provider of sports and entertainment is a result of the team’s tenacity, creativity and professionalism,” News Corp chief executive Robert Thomson said in a statement. According to CFO Lavanya Chandrashekar, these divisions drove more than 95% of the company’s total segment EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) in its fiscal second quarter.
Or read this on Variety
