(Bloomberg) -- News Corp. has agreed to sell Foxtel to global sports firm DAZN Ltd. in a deal that values the pay-TV service at A$3.4 billion ($2.1 billion).
Most Read from Bloomberg
Under the terms of the agreement, shareholder loans valued at A$578 million outstanding will be repaid in full in cash, and Foxtel's current debt will be refinanced, according to a statement Monday. News Corp will hold a minority equity interest in DAZN of about 6% as well a seat on its board of directors.
Telstra Group Ltd. will also sell its minority interest in Foxtel, have its shareholder loans of A$128 million repaid, and take a minority stake in DAZN of approximately 3%.
The transaction is expected to close in the second half of fiscal 2025, and is subject to regulatory approvals and other customary closing conditions.
To view the source of this information click here