Sports streaming company DAZN is buying Australia’s Foxtel Group from majority shareholder News Corp and minority shareholder Telstra in a deal with an enterprise value of $2.2 billion. The deal, which is subject to regulatory approval,

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 recent announcement of DAZN’s acquisition of Foxtel marks a pivotal moment in Australia’s media and sports landscape.

Sports streaming platform DAZN has acquired Australian broadband company Foxtel Group from majority shareholder, Rupert Murdoph’s News Corp, and minority shareholder, Telstra, in a deal valued at $2.2 billion.

News Corp. and Australian telecom film Telstra have struck a deal to sell Aussie media company Foxtel Group to sports streaming platform DAZN in a deal worth about $2.1 billion.

By Scott Murdoch, Anousha Sakoui and Chandini Monnappa SYDNEY (Reuters) -News Corp has agreed to sell its Australian cable-TV unit Foxtel to British-owned sports network DAZN for A$3.4 billion ($2.1 billion) including debt,

News Corp and Australian telecom company Telstra have agreed to sell their jointly owned pay television company, Foxtel, to sports streaming service DAZN Group in a deal that values Foxtel at around US$2.