DAZN completes Foxtel acquisition, creating global sports streaming powerhouse

DAZN Group, the British over-the-top sports streaming platform, has officially completed its acquisition of Australia's Foxtel Group, finalizing a landmark AU$3.4 billion deal announced in December 2024. The acquisition was completed on April 2, 2025, four months after the initial announcement.

The deal represents a significant milestone for DAZN as it expands its global footprint into the Australian market, a region known for its passionate sports fans and high sports consumption. Foxtel Group, which includes Foxtel pay-TV service, streaming platforms Kayo Sports and BINGE, and the Hubbl aggregation service, will continue to operate as a standalone business while gaining access to DAZN's global reach and technology infrastructure.

According to Shay Segev, CEO of DAZN, "This is an exciting day for DAZN and Foxtel Group and a significant milestone for DAZN as we expand our global footprint into Australia, a key sports market with passionate fans. Foxtel's strong local presence, combined with DAZN's global scale, technology, and content rights, will unlock incredible opportunities for sports fans, advertisers, and partners."

The deal, which was first announced 113 days ago, comes as DAZN continues to strengthen its position as a global sports entertainment platform. The company, founded in 2015 and officially launched in 2016, has been expanding rapidly through strategic acquisitions and rights deals, including securing exclusive international rights to the 2025 FIFA Club World Cup last December.

Strategic benefits for both companies

For DAZN, the acquisition provides immediate access to Foxtel's 4.7 million subscribers and its strong portfolio of local sports rights, including the Australian Football League (AFL) and National Rugby League (NRL). The deal also gives DAZN control of Fox Sports, Australia's leading sports production company, and advertising arm Foxtel Media.

Patrick Delany, who will continue as CEO of Foxtel Group, highlighted the benefits for the Australian company: "DAZN's ownership allows the Foxtel Group to remain an Australian-based business, with an Australian team and the sport, drama and entertainment that Australians love. As part of DAZN, we now benefit from their global scale, their leading technology platform and their track record in innovation."

Delany also emphasized the global exposure opportunities for Australian sports, stating: "We now have the opportunity to take the AFL and NRL, our two largest and most iconic Australian sports, to a massive global audience. For our Australian subscribers, it creates the opportunity to enjoy even more of the world's best sports."

Brand continuity with global backing

As part of the integration process, Foxtel, Kayo Sports, BINGE, and Hubbl will retain their brand identities while being designated as "a DAZN Company." This approach aims to maintain brand recognition among Australian consumers while leveraging DAZN's global resources.

The acquisition follows DAZN's pattern of expanding through strategic purchases, including its 2022 acquisition of Eleven Group, which enhanced its position in parts of Asia and Europe. The Foxtel deal, however, represents its largest acquisition to date.

News Corp and Telstra, Foxtel's previous owners, have taken 6% and 3% stakes in DAZN respectively as part of the transaction, indicating their continued confidence in the business's future growth potential under new ownership.

Market implications

The acquisition positions DAZN as a more formidable competitor to global streaming giants like Netflix, Amazon Prime Video, and Disney+ in the sports entertainment sector. With Foxtel's established market position in Australia and DAZN's global sports rights portfolio, the combined entity can offer a more compelling value proposition to sports fans.

Industry analysts note that the deal comes as traditional pay-TV providers worldwide continue to adapt to changing consumer preferences, with many pivoting toward streaming-first strategies. Foxtel had already begun this transition with the launch of Kayo Sports in 2018 and the Hubbl streaming aggregation platform in 2023.

The combination of DAZN's technology platform and Foxtel's content production capabilities may accelerate innovation in sports viewing experiences, potentially including features such as interactive viewing, integrated betting, and enhanced statistical analysis.

Financial considerations

While specific financial details beyond the AU$3.4 billion acquisition price have not been disclosed, DAZN reported revenues of $2.3 billion in 2022, with over 70% growth from the previous year. The company, backed by billionaire Sir Len Blavatnik's Access Industries, has invested heavily in sports rights and technology development.

In February 2025, news emerged that Saudi Arabia's Public Investment Fund had invested $1 billion in DAZN for a stake of less than 5%, providing additional capital that may have helped facilitate the Foxtel acquisition.

The integration of Foxtel's operations is expected to be phased to ensure a seamless transition for employees, partners, and customers, with minimal disruption to existing services.

Timeline

• August 2016: DAZN platform officially launches
• December 22, 2024: DAZN announces agreement to acquire Foxtel Group for AU$3.4 billion
• February 2025: Reports emerge of Saudi Arabia's PIF investing $1 billion in DAZN
• April 2, 2025: Acquisition officially completed

As the sports media landscape continues to evolve, this acquisition represents a significant consolidation in the global sports streaming market and signals DAZN's ambitions to challenge established media conglomerates in key markets worldwide.