Telstra Divests Major Foxtel Stake to DAZN for $80 Million
(Reuters) - Australian telecom firm Telstra said on Monday it had sold a 35% stake in Australian cable TV and streaming unit Foxtel to British streaming platform DAZN.
The company will receive A$128 million ($80.08 million) in cash for the repayment of shareholder loans and will hold a 3% stake in DAZN.
The deal, subject to regulatory approvals, is expected to finalise in the first half of 2025.
News Corp said on Monday it would sell its Foxtel stake to DAZN for A$3.4 billion, including debt.
($1 = 1.5985 Australian dollars)
(Reporting by Roshan Thomas in Bengaluru; Editing by Jamie Freed)
