• by Ray Schultz , April 2, 2025

News Corp. has completed the sale of Foxtel Group, an Australia-based TV company specializing in sports and entertainment, to DAZN Group Limited, a sports streaming service.  

As part of this, AU$592 million in shareholder loans were repaid to News Corp, and News Corp received a 6% equity interest in DAZN. In addition, Andrew Cramer, senior vice president and deputy chief financial officer of Foxtel, joined the DAZN board. 

“The sale of Foxtel is significant for News Corp, and will enable greater focus on our core growth pillars, which drove over 95% of Total Segment EBITDA in the Company's fiscal second quarter,” says Lavanya Chandrashekar, News Corp’s chief financial officer. “It will also meaningfully strengthen our balance sheet, and should reduce future capital intensity and improve return on invested capital. We expect the disposition will also be accretive to earnings per share.”

Robert Thomson, chief executive of News Corp., comments that “Foxtel’s successful transformation to becoming a leading provider of sports and entertainment is a result of the team’s tenacity, creativity and professionalism. Foxtel employees should be proud of their contribution to that success in the ultra-competitive content contest.”

Thomson adds, “We are confident that DAZN is poised to drive the next phase of Foxtel’s growth and we are delighted to be DAZN’s partner and shareholder. And we are pleased to have extra capital strength and optionality.”