Allens has advised News Corp on the sale of The Foxtel Group to streaming and entertainment platform DAZN.
DAZN will take full ownership of Foxtel in the transaction valued at $3.4 billion. As part of the deal, News Corp and Telstra, the current owners of Foxtel, will receive minority stakes in DAZN and repayment of shareholder loans.
'We are proud to have assisted News Corp in navigating the complexities of this deal and positioning themselves for future opportunities in the media and entertainment space,' said Partner Kylie Brown.
The deal closed on 2 April 2025.
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